Section 432 — Income Tax Act 2007: Meaning of “qualifying investment”
Text of the provision Official document
Meaning of “qualifying investment” 432 1 In this Chapter “ qualifying investment ” means—
a shares or securities which are listed on a recognised stock exchange or dealt in on any 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— “ designated ” means designated by an order made by the Commissioners for Her Majesty's Revenue and Customs for the purposes of subsection (1)(a), “ offshore fund ” has the same meaning as in Chapter 5 of Part 17 of ICTA (see sections 756A to 756C of that Act), and “ open-ended investment company ” is to be read in accordance with sections 613 and 615 of CTA 2010 .
3 An order under subsection (2) may—
a designate a market by name or by reference to any class or description of market, and b vary or revoke a previous order under that subsection.
Official source: legislation.gov.uk
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