Taxation of Chargeable Gains Act 1992 Schedule 5AAA paragraph 39

Meaning of "the relevant fund" and "the relevant fund manager"

Section 39 defines two key terms — "the relevant fund" and "the relevant fund manager" — used throughout this part of the Schedule in connection with elections made under paragraph 12 for qualifying funds or qualifying companies.

• Where an election relates to a qualifying fund, "the relevant fund" is the collective investment vehicle itself.
• Where an election relates to a qualifying company, "the relevant fund" is the collective investment scheme that wholly (or almost wholly) owns that company.
• "The relevant fund manager" is simply the manager of whichever entity is identified as "the relevant fund".
• These definitions apply throughout this part of the Schedule wherever the terms are used.