Paragraph 38 F1

(1)

For the purposes of Part of this Schedule a qualifying fund “meets the applicable exemption conditions” at any time if, at that time—

(a)

it is a collective investment vehicle, and

(b)

it meets the entitlement conditions set out in paragraph 12(2).

(2)

For the purposes of Part of this Schedule a qualifying company “meets the applicable exemption conditions” at any time if, at that time, it meets the entitlement conditions set out in paragraph 12(3).

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