{
  "url": "https://openlegislation.uk/value-added-tax-finance-order-2020/article-4",
  "json_url": "https://openlegislation.uk/value-added-tax-finance-order-2020/article-4.json",
  "legislation": "uksi/2020/209",
  "legislation_title": "The Value Added Tax (Finance) Order 2020",
  "legislation_url": "https://openlegislation.uk/value-added-tax-finance-order-2020",
  "path": "article/4",
  "kind": "article",
  "number": "4",
  "heading": "Amendment of Group 5 of Schedule 9 to the Value Added Tax Act 1994",
  "text": "In Note (6)—\n(a) in the definition of “closed-ended collective investment undertaking”, in paragraph (a) omit “, wholly or mainly in securities”;\n(b) in the appropriate place insert both—\n““pension member” means, in relation to a qualifying pension fund, a person to or in respect of whom retirement benefits are to be paid from the fund;”;\n““qualifying pension fund” means a pension fund in relation to which all of the following conditions are satisfied—\n(a) it is solely funded, whether directly or indirectly, by pension members;\n(b) the pension members bear the investment risk;\n(c) the fund contains the pooled contributions of more than one pension member;\n(d) the risk borne by the pension members is spread over a range of investments; and\n(e) the fund is established in the United Kingdom or in a member State;”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2020/209/article/4",
    "retrieved_at": "2026-10-28T22:33:06.791010+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."
}