72A(1)  This regulation applies if a reporting fund does not operate equalisation arrangements and–

(a)the fund has given a statement under regulation 53(1)(k) that it intends to make income adjustments in a reporting period on the basis of reportable income, or

(b)regulation 72B(7) applies.

72A(2)  The reportable income of the fund for a reporting period is the sum of the reportable income per unit for all the computation periods in the reporting period multiplied by the number of units in the fund in issue at the end of the reporting period.

72A(3)  But if the sum results in a negative amount, the reportable income for that period is nil.

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