Related Commentary  Related HMRC Manuals

355(1)  In section 354 “offshore fund” means–

(a)a mutual fund constituted by a body corporate resident outside the United Kingdom,

(b)a mutual fund under which property is held on trust for the participants where the trustees of the property are not resident in the United Kingdom, or

(c)a mutual fund constituted by other arrangements that create rights in the nature of co-ownership where the arrangements take effect by virtue of the law of a territory outside the United Kingdom.

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