Introduction Details of the Sections Section 136 – Meaning of “non-qualifying individual”
219.Subsection (1) sets out who is a “non-qualifying individual” for the purposes of sections 133 and 135 as, including an individual who is entitled to the single dwelling interest, connected individuals etc (including, for a partnership, qualifying members of the partnership and individuals connected with a qualifying member of the partnership).
220.Subsection (2) provides that a qualifying member of a partnership for subsection (1)(c) is a member who has at least a 50% or greater share in the income profits of the partnership or in the partnership assets.
221.Subsection (3) specifies that a collective investment scheme is a relevant scheme for subsection (1)(i) if it meets the ownership condition in respect of the single dwelling interest.
222.Subsection (4) defines a “major participant” in a collective investment scheme as an person who:
	is entitled to at least 50% of the profits or income arising from the scheme or of any profits or income arising from the scheme that may be distributed to participants; or
	would be entitled to 50% or more of the assets of the scheme on its winding up.
223.Subsection (5) clarifies what will be treated as profits or income arising from the scheme in question.
224.Subsection (6) modifies the way section 1122 of CTA 2010 works for subsection (1) by omitting rules about connected persons to partnerships.
225.Subsection (7) provides the meaning for “relative”, “settlor” and “settlement”.
226.Subsection (8) provides a requirement for the meaning for “trustee”.