Section HM 15 — Income Tax Act 2007: Maximum investor interests

HM 15 Maximum investor interests Requirement for investors' interests (1) An investor in an investor class must not hold more than 20% of the total investor interests in the class. Exceptions (2) Sections HM 21(2) to (4) and HM 22 override this section. Defined in this Act: investor , investor class , investor interest Compare: 2007 No 97 s HL 9(1), (6) Section HM 15: 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 15 heading: amended (with effect on 1 April 2010), on 21 December 2010, by section 89(1) of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130). Section HM 15(1): amended (with effect on 1 April 2010), on 21 December 2010, by section 89(2) of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130). Section HM 15(2): amended, on 1 April 2010 (applying for the 2010–11 and later income years), by section 47(1) of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63). Section HM 15 list of defined terms investor interest : inserted (with effect on 1 April 2010), on 21 December 2010, by section 89(3) of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130).