Regulation 27 Definition of non-exempt unauthorised unit trust
United Kingdom
An unauthorised unit trust is a “non-exempt unauthorised unit trust” if it is F1not—
(a)
an exempt unauthorised unit trust, or
(b)
treated by regulations made in exercise of the powers conferred by section 1007(2) of ITA 2007 as not being a unit trust scheme for the purposes of the definition of “unauthorised unit trust” in section 989 of that Act.
Annotations
Textual amendments
- F1
Words in reg. 27 substituted (6.4.2014) by The Unauthorised Unit Trusts (Tax) (Amendment) Regulations 2014 (S.I. 2014/585), regs. 1, 4