Companies Act 2014 section 1394

Status of existing investment company

Section 1394 deals with the transitional arrangements for investment companies that were already in existence under the previous Companies Acts, ensuring they continue to operate under the new legislation.

  • An "existing investment company" is one that was governed by Part XIII of the Companies Act 1990
  • The company must have been incorporated under the prior Companies Acts and in existence immediately before this section commenced
  • On commencement, existing investment companies automatically continue in existence under the new Part
  • These companies are deemed to be investment companies under the current legislation without needing to re-register or take any additional steps

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