Paragraph 2 F1
In this Schedule “offshore collective investment vehicle” means—
a collective investment vehicle constituted as a body corporate resident outside the United Kingdom,
a collective investment vehicle under which property is held on trust for the participants where the trustees of the property are not resident in the United Kingdom, or
a collective investment vehicle constituted by other arrangements that create rights in the nature of co-ownership where the arrangements take effect as a result of the law of a territory outside the United Kingdom.
In this paragraph—
“body corporate” does not include a limited liability partnership, and
“co-ownership” is not restricted to the meaning of that term in the law of any part of the United Kingdom.
Annotations
Textual amendments
- F1
Sch. 5AAA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 21