CG41330 - Unit and investment trusts: authorised unit trusts

TCGA92/S99 (2) brings in for chargeable gains purposes the definition of 'authorised unit trust' contained in ICTA88/S468 (6). A trust becomes 'authorised' on the issue of an Order (by the Financial Services Authority) under section 243 of the Financial Services and Markets Act 2000. If such an Order is in force for the whole or part of an ac-counting period, then the scheme is an authorised unit trust for that accounting period.