Qualifying investments are defined by IHTA 1984, s. 178(1) as:

shares or securities which are quoted at the date of the death in question, i.e. are listed on a recognised stock exchange (which includes recognised foreign stock exchanges) or are dealt in on the Unlisted Securities Market;

shares listed on NASDAQ (for deaths after 10 March 1992);

holdings in a unit trust which at that date is an authorised unit trust ;

shares in an open-ended investment company (see ¶782-000);

shares in any common investment fund established under the Administration of Justice Act 1982, s. 42 (i.e. funds invested and managed by the Public Trustee).

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