A managed investment trust in relation to an income year is an attribution managed investment trust (or AMIT ) for the income year if certain criteria are satisfied. In particular:

  (a)   the interests of the members of the trust need to be clearly defined at all times when the trust is in existence in the income year; and

  (b)   the trustee of the trust needs to have made a choice for the trust to be an AMIT in respect of that income year or an earlier income year.