# Income Tax Act 2007, Section 1007: Meaning of “unit trust scheme”

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

(1) In the Income Tax Acts “unit trust scheme” has the meaning given by section 237 of FISMA 2000.
This is subject to subsection (2).
(2) The Treasury may, in relation to a unit trust scheme within the meaning given by section 237 of FISMA 2000 whose trustees are UK resident, by regulations provide that the scheme is not to be a unit trust scheme for the purposes of the definition in section 989 of “unauthorised unit trust” if it is within a specified description.
(3) The regulations may contain incidental, supplemental, consequential and transitional provision and savings.
(4) This section does not apply for the purposes of section 558 (approved charitable investments).

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Source: https://www.legislation.gov.uk/ukpga/2007/3/section/1007 (the official version)
Page: https://openlegislation.uk/income-tax-act-2007/section-1007
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.