Commentary on Sections Overview Overview Section 438: Market value of qualifying investments
1246.This section sets out how the market value of qualifying investments is to be determined. It is based on section 587B(10) and (11) of ICTA.
1247.The methods are those laid down in sections 272 to 274 of TCGA. If an offshore fund publishes buy and sell prices, it is in effect subject to the same treatment as a unit trust scheme as laid down by section 272(5) of TCGA. The provisions of that subsection are reproduced here.