Finance Act, 1990

Chapter VII

Offshore Funds

Interpretation (Chapter VII, etc.).

62.—In this Chapter and the Fifth and Sixth Schedules—

“account period” shall be construed in accordance with subsections (8), (9) and (10) of section 66 ;

“disposal” shall be construed in accordance with section 63 (2);

“distributing fund” shall be construed in accordance with subsections (2) and (3) of section 66 ;

“equalisation account” has the meaning assigned to it in section 64 (1);

“Irish equivalent profits” has the meaning it has in paragraph 5 of the Fifth Schedule ;

“material interest” shall be construed in accordance with section 65 (2);

“non-qualifying fund” has the meaning assigned to it by section 66 (1);

“offshore funds” has the meaning assigned to it in section 65 (1);

“offshore income gain” shall be construed in accordance with paragraphs 5 and 6 (1) of the Sixth Schedule ;

“the Principal Act” means the Capital Gains Tax Act, 1975 .