# Taxation of Chargeable Gains Act 1992, Paragraph 9

Extent: E+W+S+N.I.

(1) An election under paragraph 8 in relation to an offshore collective investment vehicle—
(a) has effect only if the participants in the vehicle at the time at which it is made have consented to the making of the election,
(b) must be made by notice given to an officer of Revenue and Customs, and
(c) must be made before the end of the period of 12 months beginning with the relevant acquisition date.
(2) For this purpose “the relevant acquisition date” means the earliest date on which—
(a) an interest in UK land, or
(b) a right or interest in a company that is UK property rich,
forms part of the property that is the subject of or held by the vehicle.
(3) An election under paragraph 8 is irrevocable.
(4) An election under paragraph 8 must include the following information in the case of each participant in the vehicle—
(a) the participant’s name and, if the participant has one, the participant’s unique taxpayer reference,
(b) the participant’s usual or last known place of residence or the participant’s place of business, and
(c) in the case of a participant who is an individual, the participant’s date of birth.

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Source: https://www.legislation.gov.uk/ukpga/1992/12/schedule/5AAA/paragraph/9 (the official version)
Page: https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-5AAA/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.