{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-5AAA/paragraph-49",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-5AAA/paragraph-49.json",
  "legislation": "ukpga/1992/12",
  "legislation_title": "Taxation of Chargeable Gains Act 1992",
  "legislation_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992",
  "path": "schedule/5AAA/paragraph/49",
  "kind": "paragraph",
  "number": "49",
  "heading": null,
  "text": "(1) This paragraph applies in the case of an offshore collective investment vehicle to which paragraph 8 applies which was constituted before 6 April 2019.\n(2) Paragraph 9(1)(c) has effect as if it permitted the election under paragraph 8 to be made before 1 October 2020.\n(3) The election is to have effect in relation to disposals made on or after 6 April 2019 (so that paragraph 8(2) has effect subject to this sub-paragraph).\n(4) If a person is a participant in the vehicle on 6 April 2019—\n(a) the making of an election under paragraph 8 is not to be regarded as being a disposal of the person's units in the vehicle, and\n(b) any question arising for the purposes of this Act, in relation to a disposal on or after 6 April 2019 of the person's units in the vehicle, is to be determined as if the election under paragraph 8 had had effect in relation to all times on or after the vehicle's constitution.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 5AAA para. 49(2) substituted (10.4.2020) by The UK Property Rich Collective Investment Vehicles (Amendment of the Taxation of Chargeable Gains Act 1992) Regulations 2020 (S.I. 2020/315), regs. 1(1), 18"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/schedule/5AAA/paragraph/49",
    "retrieved_at": "2026-11-14T03:34:05.925206+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}