Regulation 2 Interpretation

In these Regulations–

• “the Management Act” means the Taxes Management Act 1970^f1;

• “the principal Regulations” means the Stamp Duty Reserve Tax Regulations 1986^f2 and “regulation” means a regulation of the principal Regulations;

• “surrender” shall be construed in accordance with sub-paragraph (1) of paragraph 2 of Schedule 19 to the Finance Act 1999 (surrender of units to managers) and in accordance with that sub-paragraph as modified in relation to open-ended investment companies by the Stamp Duty and Stamp Duty Reserve Tax (Open-ended Investment Companies) Regulations 1997^f3.