# Taxation of Chargeable Gains Act 1992, Paragraph 38


(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).

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/5AAA/paragraph/38 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-5AAA/paragraph-38
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.