The Open-ended Investment Companies (Tax) Regulations 1997
These Regulations make provision for the tax treatment under the Tax Acts and the Taxation of Chargeable Gains Act 1992 (c. 12) (“the 1992 Act”) of open-ended investment companies (within the meaning of the Financial Services Act 1986 (c. 60)) which are incorporated in the United Kingdom. The Regulations secure that the Tax Acts and the 1992 Act have effect in relation to open-ended investment companies in the same manner as the manner in which they have effect in relation to authorised unit trusts. The Regulations achieve this effect principally by making modifications to those enactments.