[Part 3 Interpretation]
Finance Act 2003 (2003 c 14) | Legislation

[Part 3 Interpretation]

[“Feeder fund†and “unitsâ€

20

In this Schedule—

a “feeder fund†of a property AIF means a unit trust scheme—

(a)     one of the main objects of which is investment in the property AIF, and

(b)     which is managed by the same person as the property AIF;

a “feeder fund†of a co-ownership authorised contractual scheme means an open-ended investment company, an offshore fund or a unit trust scheme—

(a)     one of the main objects of which is investment in the co-ownership authorised contractual scheme, and

(b)     which is managed by the same person as the scheme;

“units in the property AIF†means—

(a)     units in the property AIF (and, where the property AIF is a part of an umbrella company as mentioned in regulation 7(1) and (2) of the AIF (Tax) Regulations,

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