United Kingdom Authorised Unit Trusts

Part of New Clause 16 – in the House of Commons at 9:45 pm on 15th July 1991.

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468G—(1) This section applies where—

  1. (a) as regards a distribution period ending alter 31st December 1991 a dividend is treated by virtue of section 468(2) as paid to a unit holder (whether or not income is in fact paid to the unit holder), and
  2. (b) all or part (in this section the "appropriate portion") of the dividend is paid from sources other than franked investment income, and
  3. (c) the dividend is treated as paid by the trustees of a unit trust scheme which is an authorised unit trust as respects the accounting period in which the distribution period falls, and
  4. (d) arrangements with the Board as provided in section 468H are in force in respect of such unit trust scheme.