{
  "url": "https://openlegislation.uk/offshore-funds-tax-regulations-2009/regulation-57",
  "json_url": "https://openlegislation.uk/offshore-funds-tax-regulations-2009/regulation-57.json",
  "legislation": "uksi/2009/3001",
  "legislation_title": "The Offshore Funds (Tax) Regulations 2009",
  "legislation_url": "https://openlegislation.uk/offshore-funds-tax-regulations-2009",
  "path": "regulation/57",
  "kind": "regulation",
  "number": "57",
  "heading": "Effects of entry into the reporting fund regime",
  "text": "(1) If HMRC accept an application, the offshore fund becomes a reporting fund on whichever is the later of—\n(a) the first day of the first period of account mentioned in regulation 53(1)(a), or\n(b) the day on which the fund is established.\nThis paragraph and paragraphs (2) and (3) are subject to paragraph (4).\n(2) This Part applies to the fund and to its participants on and after the date specified in paragraph (1).\n(3) Once this Part has begun to apply to a fund, it shall continue to apply unless and until it ceases to apply in accordance with Chapter 11 of this Part.\n(4) Where an application has been withdrawn under regulation 54(3)(b), the fund and its participants shall be treated as if the fund had never been a reporting fund.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in reg. 57(1) 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), 32(2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Reg. 57(4) 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), 32(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2009/3001/regulation/57",
    "retrieved_at": "2026-10-29T03:01:48.652414+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}