Related Commentary  

75(1)  The genuine diversity of ownership condition is met if the fund meets, or, in relation to a fund constituted by a class of interests in the main arrangements, the main arrangements meet, conditions A to C throughout the period of account.

75(2)  Condition A is that the fund produces documents, available to investors and to HMRC, which contain–

(a)a statement specifying the intended categories of investor,

(b)an undertaking that interests in the fund will be widely available, and

(c)an undertaking that interests in the fund will be marketed and made available in accordance with the requirements of paragraph (4)(a).

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