Capital Allowances Act 2001 section 262AF

Co-ownership schemes: definitions relating to schemes

Section 262AF provides the key definitions used throughout the co-ownership authorised contractual scheme provisions in sections 262AA to 262AE.

• A "co-ownership authorised contractual scheme" is a co-ownership scheme that has been formally authorised under the Financial Services and Markets Act 2000.
• A "co-ownership scheme" takes its meaning from Part 17 of the Financial Services and Markets Act 2000, which deals with collective investment schemes.
• The terms "operator" and "units" in relation to such a scheme are defined by reference to section 237(2) of the Financial Services and Markets Act 2000.
• The term "participant" in relation to such a scheme is to be understood in accordance with section 235 of the Financial Services and Markets Act 2000.