In order to be eligible for the TEF provisions the following conditions must be satisfied1―
- Ìý
(a)ÌýÌýÌýÌý the property condition (ie the fund does not have a UK or overseas property business);
- Ìý
(b)ÌýÌýÌýÌý the genuine diversity of ownership condition (D8.111);
- Ìý
(c)ÌýÌýÌýÌý the loan creditor condition (see below); and
- Ìý
(d)ÌýÌýÌýÌý the scheme documentation condition (ie the instrument constituting the fund and its prospectus must include provisions which require the fund to meet the property condition and the loan creditor condition on entry and throughout the accounting period).
In addition an application
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Web page updated on 17 Mar 2025 15:35