# C_2004146EN.01000301.xml

| 29.5.2004 | EN | Official Journal of the European Union | C 146/3 |
| --- | --- | --- | --- |

29.5.2004

EN

Official Journal of the European Union

C 146/3

---

Reference for a preliminary ruling by the VAT and Duties Tribunals, London Tribunal Centre, by direction of that court dated 2 April 2004, in the case of Abbey National plc (with Inscape Investments Ltd as Joined Party) against Commissioners of Customs and Excise.

(Case C-169/04)

(2004/C 146/04)

Reference has been made to the Court of Justice of the European Communities by direction of the VAT and Duties Tribunals, London Tribunal Centre, dated 2 April 2004, which was received at the Court Registry on 5 April 2004, for a preliminary ruling in the case of Abbey National plc (with Inscape Investments Ltd as Joined Party) and Commissioners of Customs and Excise on the following questions:

| 1. | Does the exemption for ‘management of special investment funds as defined by Member States’, contained in Article 13B(d)(6) of the Sixth VAT Directive (1) mean that the Member States have the power to define the activities comprising the ‘management’ of the special investment funds, as well as the power to define the special investment funds which may benefit from the exemption? |
| --- | --- |

1.

Does the exemption for ‘management of special investment funds as defined by Member States’, contained in Article 13B(d)(6) of the Sixth VAT Directive (1) mean that the Member States have the power to define the activities comprising the ‘management’ of the special investment funds, as well as the power to define the special investment funds which may benefit from the exemption?

1

| 2. | If the answer to question 1 is no and the term ‘management’ in Article 13B(d)(6) of the Sixth VAT Directive is to be given an independent Community law meaning, in the light of Council Directive 85/611/EEC as amended on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (‘the UCITS Directive’) (2), are charges made by a depositary or trustee for the services it provides pursuant to articles 7 and 14 of the UCITS Directive, national regulatory provisions and the relevant fund rules, exempt supplies of ‘management of special investment funds’ under Article 13B(d)(6) of the Sixth VAT Directive? |
| --- | --- |

2.

If the answer to question 1 is no and the term ‘management’ in Article 13B(d)(6) of the Sixth VAT Directive is to be given an independent Community law meaning, in the light of Council Directive 85/611/EEC as amended on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (‘the UCITS Directive’) (2), are charges made by a depositary or trustee for the services it provides pursuant to articles 7 and 14 of the UCITS Directive, national regulatory provisions and the relevant fund rules, exempt supplies of ‘management of special investment funds’ under Article 13B(d)(6) of the Sixth VAT Directive?

2

| 3. | Again, if the answer to question 1 is no and the term ‘management’ is to be given an independent Community law meaning, does the exemption for the ‘management of special investment funds’ in Article 13B(d)(6) of the Sixth VAT Directive apply to services performed by a third party manager in respect of the administrative management of the funds? |
| --- | --- |

3.

Again, if the answer to question 1 is no and the term ‘management’ is to be given an independent Community law meaning, does the exemption for the ‘management of special investment funds’ in Article 13B(d)(6) of the Sixth VAT Directive apply to services performed by a third party manager in respect of the administrative management of the funds?

---

(1)  Sixth Council Directive 77/388/EEC of 17 May 1977 on the harmonization of the laws of the Member States relating to turnover taxes - Common system of value added tax: uniform basis of assessment (OJ L 145, 13.06.1977, p. 1).

1

(2)  of 20 December 1985 (OJ L 375, 31.12.1985, p. 3).

2

---