Taxation of Chargeable Gains Act 1992 section 103E

Application of Chapter

Section 103E defines which collective investment schemes are covered by Chapter 4 and explains how the normal share reorganisation rules interact with this chapter's special provisions.

• Chapter 4 applies to three types of collective investment scheme: co-ownership authorised contractual schemes, unit trust schemes, and offshore funds.
• The normal share reorganisation and securities conversion rules in sections 126 to 138A are switched off for participants in these schemes, except where Chapter 4 specifically applies them.
• The company reconstruction rules in sections 135 to 138A can still apply where at least one party to the reconstruction is not one of the three types of collective investment scheme listed above.
• For the purposes of this chapter, the term "units" is broadly defined and includes shares in a company.