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Regulation 22 The income distribution requirement: exceptions

United Kingdom

(1)

Regulations 19 and 21 do not apply in relation to an accounting period if the amount that the investment trust would be required to distribute in accordance with those regulations, taken together, would be less than £30,000.

F1(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

If the accounting period mentioned in F2paragraph (1) is shorter than 12 months, the amount of £30,000 mentioned in F3that paragraph is proportionately reduced.

Annotations

Textual amendments

F1

Reg. 22(2) omitted (with effect in accordance with reg. 1(2) of the amending S.I.) by virtue of The Investment Trust (Approved Company) (Tax) (Amendment) Regulations 2013 (S.I. 2013/1406), regs. 1(2), 2(4)(a)

F2

Words in reg. 22(3) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Investment Trust (Approved Company) (Tax) (Amendment) Regulations 2013 (S.I. 2013/1406), regs. 1(2), 2(4)(b)(i)

F3

Words in reg. 22(3) substituted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Investment Trust (Approved Company) (Tax) (Amendment) Regulations 2013 (S.I. 2013/1406), regs. 1(2), 2(4)(b)(ii)