Section 204 — Corporation Tax Act 2010: Meaning of qualifying investment

Meaning of qualifying investment 204 1 In this Chapter “ qualifying investment ” means any of the following—

a shares or securities which are listed on a recognised stock exchange or dealt in on a designated market in the United Kingdom, b units in an authorised unit trust, c shares in an open-ended investment company, d an interest in an offshore fund, and e a qualifying interest in land.

2 In this section— “ offshore fund ” has the meaning given by section 355 of TIOPA 2010, and “ open-ended investment company ” is to be read in accordance with sections 613 and 615.

3 In paragraph (a) of subsection (1) “ designated ” means designated by an order made by the Commissioners for Her Majesty's Revenue and Customs for the purposes of that paragraph.

4 An order under subsection (3)—

a may designate a market by name or by reference to a class or description of market, b may vary or revoke a previous order under that subsection.