Taxation of Chargeable Gains Act 1992 section 102

Collective investment schemes with property divided into separate parts

Section 102 previously dealt with the capital gains tax treatment of collective investment schemes whose property was divided into separate parts, but this section has been removed from the legislation.

• Section 102 originally addressed the chargeable gains treatment of collective investment schemes with property divided into separate parts (sometimes known as "umbrella funds").
• The section was omitted from the Taxation of Chargeable Gains Act 1992 by The Collective Investment Schemes (Tax Transparent Funds, Exchanges, Mergers and Schemes of Reconstruction) Regulations 2013.
• The removal took effect for disposals made on or after 8 June 2013, meaning any disposal before that date would still have been governed by the original rules.
• The relevant provisions relating to such schemes are now addressed elsewhere in the legislation following the 2013 regulatory changes.

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