Finance Act, 1993

Amendment of section 18 (taxation of collective investment undertakings) of Finance Act, 1989.

20.Section 18 (as amended by the Finance Act, 1991 ) of the Finance Act, 1989 , is hereby amended—

(a) in subsection (1) by the substitution for paragraph (b) of the definition of a “specified collective investment undertaking” of the following paragraph:

“(b) save to the extent that such units are held by the undertaking itself, the qualifying management company of the undertaking or by another specified collective investment undertaking, all the holders of units in the undertaking are persons resident outside the State;”,


(b) by the deletion of subsection (10).