289 Undertakings for collective investment in transferable securities and alternative investment funds
Finance Act 2014 (2014 c 26) | Legislation

Offshore funds

289  Undertakings for collective investment in transferable securities and alternative investment funds

(1)     Section 363A of TIOPA 2010 (residence of offshore funds which are undertakings for collective investment in transferable securities) is amended as follows.

(2)     For subsections (1) and (2) substitute—

“(1)     This section applies to—

(a)     a UCITS which is authorised in a foreign country or territory pursuant to Article 5 of the UCITS Directive, and

(b)     an AIF which is authorised or registered in a foreign country or territory, or is not authorised or registered but has its registered office in a foreign country or territory,

unless the UCITS or AIF is an excluded entity.

(2)     If the UCITS

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