IFM16130 | Exchanges, Mergers, Schemes of Reconstruction; other investment funds

Where any one of the funds involved in a merger or reconstructions not a CIS as listed at IFM16120, Chapter 4 will not apply. Accordingly, any arrangements involving an investment trust company or an offshore fund that is not a CIS will have to be considered in terms of sections 126 to 138A TCGA and Sch 5AA (meaning of scheme of reconstruction): see IFM16300.