Regulation 8 | Meaning of “interest” (of a participant in an offshore fund)

(1)For the purposes of these Regulations the interest of a participant in an offshore fund is the investment held by a participant taking part in arrangements (or arrangements constituting a fund) to which the relevant group of sections applies.

(2)Paragraph (1) does not apply to the use of the word “interest” in the expression “material interest in an offshore fund”.