101 Unit trust schemes
Finance Act 2003 (2003 c 14) | Legislation

101  Unit trust schemes

(1)     This Part (with the exception of the [provision] mentioned in subsection (7) below) applies in relation to a unit trust scheme as if—

(a)     the trustees were a company, and

(b)     the rights of the unit holders were shares in the company.

(2)     Each of the parts of an umbrella scheme is regarded for the purposes of this Part as a separate unit trust scheme and the scheme as a whole is not

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