D8.142 Qualifying conditionsIn order to be eligible for the TEF provisions the following conditions must be satisfied1― (a) the property condition (ie the fund does not have a UK or overseas property business); (b) the genuine diversity of ownership condition (D8.111); (c) the loan creditor condition (see below); and (d) 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 for the TEF regime to apply must be made
In order to be eligible for the TEF provisions the following conditions must be satisfied1―
(a) the property condition (ie the fund does not have a UK or overseas property business);
(b) the genuine diversity of ownership condition (D8.111);
(c) the loan creditor condition (see below); and
(d) 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 for the TEF regime to apply must be made
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