{
  "url": "https://openlegislation.uk/value-added-tax-finance-order-1997/article-2",
  "json_url": "https://openlegislation.uk/value-added-tax-finance-order-1997/article-2.json",
  "legislation": "uksi/1997/510",
  "legislation_title": "The Value Added Tax (Finance) Order 1997",
  "legislation_url": "https://openlegislation.uk/value-added-tax-finance-order-1997",
  "path": "article/2",
  "kind": "article",
  "number": "2",
  "heading": null,
  "text": "Group 5 of Schedule 9 to the Value Added Tax Act 1994 (exempt supplies: finance) shall be varied as follows—\n(a) after item 9 there shall be added the following item—\n“10 The services of the authorised corporate director of an open-ended investment company so far as they consist in managing the company’s scheme property.”;\n(b) after Note (6) there shall be added the following Notes—\n“(7) For the purposes of item 10, a person is an authorised corporate director of an open-ended investment company if for the time being that person—\n(a) is a director of the company, and\n(b) has responsibility for the management of, and is managing, the company’s scheme property.\n(8) For the purposes of item 10 and Note (7), an open-ended investment company’s scheme property is the property subject to the collective investment scheme constituted by that company.\n(9) In Note (7) “director”, in relation to an open-ended investment company, includes a person occupying in relation to it the position of director (by whatever name called).\n(10) For the purposes of this Group, “collective investment scheme” and “open-ended investment company” have the meanings given by section 75 of the Financial Services Act 1986.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "1986 c. 60; section 75 was amended by S.I. 1988/803 and S.I. 1990/349."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1997/510/article/2",
    "retrieved_at": "2026-10-29T12:24:07.892409+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."
}