Regulation 89D | Adjustment in relation to income from non-reporting funds: first case ^F1

(1)This regulation applies if—

(a)a transparent reporting fund has an interest in a non-reporting fund, and

(b)the conditions in paragraph (2) are met for a period of account.

(2)The conditions are that—

(a)the transparent reporting fund has access to the accounts of the non-reporting fund;

(b)the transparent reporting fund has sufficient information about the non-reporting fund to enable it to prepare a computation of reportable income for the non-reporting fund; and

(c)the transparent reporting fund can reasonably expect to rely on continued access to that information for the period in which it will hold the investment in the non-reporting fund.

(3)Regulation 89C applies as if the transparent reporting fund were TRF and the non-reporting fund were RF.

(4)For the purposes of the computation mentioned in paragraph (2)(b), regulation 80 applies if (and only if) the non-reporting fund is a UCITS fund.