Related Commentary  

45(1)  This regulation applies if–

(a)an investment trust has an interest in a non-reporting fund,

(b)the conditions in paragraph (2) are met throughout the relevant period.

45(2)  The conditions are that–

(a)in accordance with the instrument constituting the investment trust, the aim of the investment trust’s policy is to replicate the performance of a qualifying index,

(b)the main purpose of the investment in the non-reporting fund is to represent the composition of the qualifying index, and

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