Regulation 49 Structure and application of this PartF5

United Kingdom

(1)

The structure of this Part is as follows—

(a)

this Chapter contains preliminary provisions;

(b)

Chapter 2 deals with entry into the reporting fund regime;

(c)

Chapter 3 deals with the general duties of reporting funds;

(d)

Chapter 4 deals with the preparation of accounts;

(e)

Chapter 5 deals with the computation of reportable income;

(f)

Chapter 6 deals with transactions by certain reporting funds which are not treated as trading;

F1(fa)

Chapter 6A deals with transparent reporting funds;

(g)

Chapter 7 deals with reports to participants;

(h)

Chapter 8 deals with the tax treatment of participants in reporting funds;

(i)

Chapter 9 deals with the provision of information to HMRC;

(j)

Chapter 10 deals with breaches of reporting fund requirements;

(k)

Chapter 11 deals with leaving the reporting fund regime;

(l)

Chapter 12 deals with constant NAV funds.

(2)

This Part contains provisions applying to—

(a)

funds that are not constant NAV funds (see Chapters 2 to 11), F2...

F3(aa)

transparent reporting funds (see Chapter 6A), and

(b)

constant NAV funds (see Chapter 12).

F4(3)

Chapters 4 to 6 do not apply to transparent reporting funds.

Annotations

F1: Reg. 49(1)(fa) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 22(3)
F2: Word in reg. 49(2)(a) omitted (with effect in accordance with reg. 1(2) of the amending S.I.) by virtue of The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 22(4)(a)
F3: Reg. 49(2)(aa) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 22(4)(b)
F4: Reg. 49(3) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 22(5)
F5: Words in reg. 49 heading inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Offshore Funds (Tax) (Amendment) Regulations 2011 (S.I. 2011/1211), regs. 1(1), 22(2)