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enajenación de los títulos que representan la participación en dichos fondos

English translation: when the securities representing the holding in those funds are disposed of

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08:54 Mar 23, 2007
Spanish to English translations [PRO]
Bus/Financial - Law: Taxation & Customs / taxation of investment funds
Spanish term or phrase: enajenación de los títulos que representan la participación en dichos fondos
éste es el caso de la acumulación de rentas en los fondos de inversión que, con independencia de su naturaleza, son gravados como ganancias de capital en el momento de *enajenación de los títulos que representan la participación* en dichos fondos
Matthew Smith
Spain
Local time: 21:04
English translation:when the securities representing the holding in those funds are disposed of
Explanation:
(are taxed as capital gains)
"títulos" or "títulos valores" are "securities"

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Note added at 39 mins (2007-03-23 09:33:58 GMT)
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A "participación" is called a "unit" (as in "unit trusts") in English, but it is most definitely a "security" (the definition of security is very broad. Investorwords.com says:
An investment instrument, other than an insurance policy or fixed annuity, issued by a corporation, government, or other organization which offers evidence of debt or equity. The official definition, from the Securities Exchange Act of 1934, is: "Any note, stock, treasury stock, bond, debenture, certificate of interest or participation in any profit-sharing agreement or in any oil, gas, or other mineral royalty or lease, any collateral trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit, for a security, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or in general, any instrument commonly known as a 'security'; or any certificate of interest or participation in, temporary or interim certificate for, receipt for, or warrant or right to subscribe to or purchase, any of the foregoing; but shall not include currency or any note, draft, bill of exchange, or banker's acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited."
Selected response from:

John Rynne
Local time: 21:04
Grading comment
Thanks for an excellent answer and its authoritative support
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +4when the securities representing the holding in those funds are disposed of
John Rynne


Discussion entries: 2





  

Answers


22 mins   confidence: Answerer confidence 5/5 peer agreement (net): +4
when the securities representing the holding in those funds are disposed of


Explanation:
(are taxed as capital gains)
"títulos" or "títulos valores" are "securities"

--------------------------------------------------
Note added at 39 mins (2007-03-23 09:33:58 GMT)
--------------------------------------------------

A "participación" is called a "unit" (as in "unit trusts") in English, but it is most definitely a "security" (the definition of security is very broad. Investorwords.com says:
An investment instrument, other than an insurance policy or fixed annuity, issued by a corporation, government, or other organization which offers evidence of debt or equity. The official definition, from the Securities Exchange Act of 1934, is: "Any note, stock, treasury stock, bond, debenture, certificate of interest or participation in any profit-sharing agreement or in any oil, gas, or other mineral royalty or lease, any collateral trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit, for a security, any put, call, straddle, option, or privilege on any security, certificate of deposit, or group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or in general, any instrument commonly known as a 'security'; or any certificate of interest or participation in, temporary or interim certificate for, receipt for, or warrant or right to subscribe to or purchase, any of the foregoing; but shall not include currency or any note, draft, bill of exchange, or banker's acceptance which has a maturity at the time of issuance of not exceeding nine months, exclusive of days of grace, or any renewal thereof the maturity of which is likewise limited."

John Rynne
Local time: 21:04
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 44
Grading comment
Thanks for an excellent answer and its authoritative support
Notes to answerer
Asker:

Asker: Excuse my ignorance, but is a "participation" in an investment fund a security? I thought, at least in British English securities referred to government bonds and company stocks and shares. Thanks.

Asker: Thanks very much- no doubt about it, then.


Peer comments on this answer (and responses from the answerer)
agree  Jenny Forbes
27 mins

agree  MikeGarcia
1 hr

agree  Margarita Ezquerra (Smart Translators, S.L.)
1 hr

agree  Patrice
8 hrs
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