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The Financial Services Act 1986 (Restriction of Exemption) Order 1999

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Draft Legislation:

This is a draft item of legislation and has not yet been made as a UK Statutory Instrument.

Restriction of exemption for managers of certain funds

2.  Subject to the provisions of article 3, the exemption for which section 45(1)(j)(1) of the Financial Services Act 1986 makes provision for a person acting in his capacity as manager of a fund established under section 22 of the Charities Act 1960(2) or under section 24 of the Charities Act 1993 shall be restricted so that it applies only where the fund is a pooling scheme fund.

(1)

Section 45(1)(j) of the Financial Services Act 1986 has been amended by section 78(1) of and Schedule 6 to the Charities Act 1992 (c. 41) and by section 98(1) of and Schedule 6 to the Charities Act 1993 (c. 10).

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