Part 2 Application of TCGA 1992 to Offshore Funds
Finance Act 2009 (2009 c 10) | Legislation

Part 2 Application of TCGA 1992 to Offshore Funds

TCGA 1992

7

TCGA 1992 is amended as follows.

8

.Ìý.Ìý.

9

Accordingly, in the title of Part 3 and in the title of Chapter 3 of that Part, insert at the end “ETCâ€.

10

In section 288(1) (interpretation), in the definition of “companyâ€, for “section 99†substitute “sections 99 and 103Aâ€.

Consequential provision

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(1)     In TMA 1970, in—

(a)     section 25(9) (issuing houses, stockbrokers, auctioneers, etc), and

(b)     section 28(2) (non-resident companies and trusts), after “sections 99†insert “, 103Aâ€.

[(2)     In section 1165 of the Corporation Tax Act 2010—

(a)     in subsection (1) for “section 99 of TCGA 1992 (application of that Act to unit trust schemes)†substitute “sections 99 and 103A of TCGA 1992 (application of that Act to unit trust schemes and to certain offshore funds)â€, and

(b)     in subsection (3) for “section 99 of TCGA 1992†substitute “sections 99 and 103A of TCGA 1992â€.]

(3)     In ITTOIA 2005—

(a)     in section 149(4) (taxation of amounts taken to reserves), at the end of paragraph (b) (before the “andâ€) insert—

“(ba)     rights of participants in certain

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