152 Open-ended investment companies
Finance Act 1995 (1995 c 4) | Legislation

Part VI Miscellaneous and General

Miscellaneous

152  Open-ended investment companies

(1)     The Treasury may, by regulations, make such provision as they consider appropriate for securing that the enactments specified in subsection (2) below have effect in relation to—

(a)     open-ended investment companies of any such description as may be specified in the regulations,

(b)     holdings in, and the assets of, such companies, and

(c)     transactions involving such companies,

in a manner corresponding, subject to such modifications as the Treasury consider appropriate, to the manner in which they have effect in relation to unit trusts, to rights under, and the assets subject to, such trusts and to transactions for purposes connected with such trusts.

(2)     The enactments referred to in subsection (1) above are—

(a)     the Tax Acts and the Taxation of Chargeable Gains Act 1992; and

(b)     the enactments relating to stamp duty and [stamp duty reserve tax].

(3)     The power of the Treasury to make regulations under this section in relation to any such enactments shall include power to make provision which does any one or more of the following, that is to say—

(a)     identifies the payments which are or are not to be treated,

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