Section HM 11 — Income Tax Act 2007: Investment types

HM 11 Investment types Types (1) The entity’s investments, to the extent of 90% or more by value of its assets, must be— (a) an interest in land: (b) a financial arrangement: (c) an excepted financial arrangement: (d) a right or option in relation to property listed in paragraphs (a) to (c). Foreign investment zero-rate PIEs [Repealed] (2) [Repealed] Foreign investment variable-rate PIEs (3) Section HM 19C(1) overrides subsection (1)(a) and modifies subsection (1)(d). Defined in this Act: excepted financial arrangement , financial arrangement , land Compare: 2007 No 97 s HL 10(1) Section HM 11: inserted, on 1 April 2010 (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section HM 11(1) heading: inserted, on 29 August 2011, by section 58(1) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section HM 11(2) heading: repealed (with effect on 29 August 2011), on 2 November 2012, pursuant to section 90(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88). Section HM 11(2): repealed (with effect on 29 August 2011), on 2 November 2012, by section 90(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88). Section HM 11(3) heading: added, on 29 August 2011 (applying for the 2012–13 and later income years for a foreign investment variable-rate PIE and a notified foreign investor in the PIE), by section 58(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section HM 11(3): added, on 29 August 2011 (applying for the 2012–13 and later income years for a foreign investment variable-rate PIE and a notified foreign investor in the PIE), by section 58(3) of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section HM 11(3): amended (with effect on 29 August 2011), on 2 November 2012, by section 90(2) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).