Section HM 4 — Income Tax Act 2007: Who is an investor?

HM 4 Who is an investor? An investor in a PIE or foreign PIE equivalent means— (a) for an entity that is a company, a shareholder in a company: (b) for a life fund PIE, a person whose benefits under the relevant life insurance policy are directly linked to the value of investments held in the PIE: (c) for an entity that is not a company or a life fund PIE, a person who is entitled to a proportion of the funds available for distribution by the entity— (i) under the rules of the entity or terms of the trust under which the entity is established; and (ii) as if the entity were a company and the person were a shareholder in the company. Defined in this Act: company , foreign PIE equivalent , investor , life fund PIE , life insurance policy , PIE , share , shareholder Compare: 2007 No 97 s HL 5B(1) Section HM 4: 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).