Related Commentary  

94A(1)  This regulation applies if–

(a)a participant has acquired by way of initial purchase an interest in a reporting fund, and

(b)the reporting fund operates full equalisation arrangements.

94A(2)  Where this regulation applies, distributions are reduced in accordance with either option 1 or option 2.

Option 1

Under this option–

(a)the amount of any actual distributions to the participant in respect of the reporting period is reduced by the equalisation amount, and

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