The Investment Trusts (Dividends) (Optional Treatment as Interest Distributions) (Amendment) Regulations 2011

• Citation: S.I. 2011/2951
• Sections: 4

Section 1 Citation, commencement and effect

(1) These Regulations may be cited as the Investment Trusts (Dividends) (Optional Treatment as Interest Distributions) (Amendment) Regulations 2011 and shall come into force on 1st January 2012.

(2) These Regulations shall have effect in relation to amounts distributed in respect of accounting periods beginning on or after 1st January 2012.

Section 2 Amendment to the Investment Trusts (Dividends) (Optional Treatment as Interest Distributions) Regulations 2009

The Investment Trusts (Dividends) (Optional Treatment as Interest Distributions) Regulations 2009 are amended as follows.

Section 3 Amendment of regulation 6 (notification of designation of dividends as interest distributions)

Omit regulation 6 (notification of designation of dividends as interest distributions).

Section 4 Amendment of regulation 12 (failure to obtain approval as an investment trust)

For regulation 12 (failure to obtain approval as an investment trust) substitute—

(12) No amount may be distributed as an interest distribution by a company in relation to an accounting period for which the company is not approved, or is treated as not having been approved, in accordance with regulations made under section 1159 of the Corporation Tax Act 2010 .