IFM06140 | Tax elected funds (TEFs): introduction & conditions of membership for the TEF regime: the genuine diversity of ownership (GDO) condition

Under regulation 69Z45 of SI2006/964 a TEF must meet the genuine diversity of ownership (GDO) condition set out in regulation 9A of SI2006/964. This condition is to prevent the regime from being manipulated by a small group of people or a larger connected group who may intend to gain a tax advantage. Guidance on the GDO can be found at IFM17000.