Taxes Consolidation Act 1997 section Schedule 2B, paragraph 8

Declaration of qualifying management company and specified company

Schedule 2B, paragraph 8 sets out the requirements for a valid declaration by a qualifying management company or a specified company to an investment undertaking, so that exit tax is not deducted from gains payable to that company.

• A qualifying management company or specified company must make a written declaration to the investment undertaking to avoid exit tax on gains from its units.
• The declaration must be signed by the person entitled to the units, made on a Revenue-prescribed form, and confirm that the declarer is a qualifying management company or specified company.
• The declaration must include the declarer's name and tax reference number, along with any other information the Revenue Commissioners may reasonably require.
• A qualifying management company manages investment activities of a specified collective investment undertaking, while a specified company is one whose share capital is at least 75% owned by non-residents (or is wholly owned by such a company).