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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 19 October 2017 - onwards
  Version 2 of 2    

739N. Anti-avoidance: multiple funds further measures.

(1) Where -

(a) an IREF would otherwise be a personal portfolio IREF in accordance with section 739M(3)(a), and

(b) the pension scheme, undertaking or company, as the case may be, in respect of which it is a personal portfolio IREF would not be a personal portfolio IREF under section 739M(3)(b)(i),

then the IREF shall not be considered to be a personal portfolio IREF in respect of the unit holder concerned.

(2) Where an IREF would only be a personal portfolio IREF of a unit holder in accordance with section 739M(3)(a) because of a scheme of amalgamation to which section 739D(8C) applied, the IREF shall not be considered to be a personal portfolio IREF in respect of the unit holder concerned.

(3) Where an IREF would be a personal portfolio IREF of a unit holder in accordance with section 739M(3)(a) solely because a person connected with the unit holder may select or influence the IREF assets or IREF business where that connected person can not -

(a) be influenced by that unit holder in

Comparing proposed amendment...