# Income and Corporation Taxes Act 1988, Paragraph 9

Extent: E+W+S+N.I.

(1) The references in paragraphs 7 and 8(1) above to the primary fund’s share of—
(a) an interest forming part of the assets of the qualifying fund, or
(b) the excess income (as defined in paragraph 8 above) of the qualifying fund,
shall be construed as references to the fraction specified in sub-paragraph (2) below of that interest or excess income.
(2) In relation to any account period of the primary fund, the fraction referred to in sub-paragraph (1) above is—
CDwhere—
C is the average value of the primary fund’s holding of interests in the qualifying fund during that period; and
D is the average value of all the interests in the qualifying fund held by any persons during that period.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/27/paragraph/9 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-27/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.