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EX 12: Reduction of total income interests
or “Adjusting ownership shares in foreign companies when total exceeds 100%”
You could also call this:

“This rule about calculating a partner's income interest has been removed”

This section of the law, called ‘Income interests of partners’, used to be part of the rules about how to calculate a person’s income interest. However, it has been removed from the law. The government took it out on 1 April 2008. This means that this particular rule no longer applies, and you don’t need to worry about it anymore when thinking about income interests of partners.

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Next up: EX 14: Attribution: 10% threshold, not PIE

or “Income from foreign companies if you own 10% or more and are not a portfolio investment entity”
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Part E Timing and quantifying rules
Controlled foreign company and foreign investment fund rules: Calculation of person’s income interest

EX 13Income interests of partners (Repealed)

    Notes
    • Section EX 13: repealed, on , by section 14(1) of the Taxation (Limited Partnerships) Act 2008 (2008 No 2).