# The Offshore Funds (Tax) Regulations 2009, Regulation 89D: Adjustment in relation to income from non-reporting funds: first case


(1) This regulation applies if—
(a) a transparent reporting fund has an interest in a non-reporting fund, and
(b) the conditions in paragraph (2) are met for a period of account.
(2) The conditions are that—
(a) the transparent reporting fund has access to the accounts of the non-reporting fund;
(b) the transparent reporting fund has sufficient information about the non-reporting fund to enable it to prepare a computation of reportable income for the non-reporting fund; and
(c) the transparent reporting fund can reasonably expect to rely on continued access to that information for the period in which it will hold the investment in the non-reporting fund.
(3) Regulation 89C applies as if the transparent reporting fund were TRF and the non-reporting fund were RF.
(4) For the purposes of the computation mentioned in paragraph (2)(b), regulation 80 applies if (and only if) the non-reporting fund is a UCITS fund.

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Source: https://www.legislation.gov.uk/uksi/2009/3001/regulation/89D (the official version)
Page: https://openlegislation.uk/offshore-funds-tax-regulations-2009/regulation-89D
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.