Section 103E — Taxation of Chargeable Gains Act 1992: Application of Chapter

Application of Chapter 103E 1 In this Chapter (except this section) references to a collective investment scheme are to a collective investment scheme falling within any of the following paragraphs—

a an authorised contractual scheme which is a co-ownership scheme, aa a Reserved Investor Fund (Contractual Scheme),

b a unit trust scheme, or c an offshore fund.

2 Sections 126 to 138A (reorganisation of share capital, conversion of securities etc ) do not apply for the purposes of the treatment of participants in collective investment schemes falling within subsection (1)(a) to (c) except as applied by this Chapter.

3 But sections 135 to 138A (company reconstructions) may apply for those purposes where either company A or company B is not a collective investment scheme falling within subsection (1)(a) to (c).

4 In subsection (3), “company A” and “company B” have the meaning given by section 135 or 136 as the case may be.

5 In this Chapter, “units” includes shares in a company.