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Local Government Pension Scheme (Management and Investment of Funds) Regulations (Northern Ireland) 2000

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Definition of “investment manager”

4.—(1) This regulation describes those persons who count as an “investment manager” for the purposes of these Regulations.

(2) A person is an investment manager if he is authorised under the Financial Services Act 1986(1) to manage the assets of occupational pension schemes.

(3) A person is also an investment manager if he—

(a)does not transact investment business (within the meaning of that Act) from a permanent place of business maintained by him in the United Kingdom;

(b)has a head office situated outside the United Kingdom in a member State;

(c)is recognised by the law of that State as a national of a member State;

(d)is authorised under that law to engage in one or more of the activities specified in Part II of Schedule 1 to the Financial Services Act 1986 (which lists different sorts of investment business); and

(e)is not prevented by that law from managing the assets of occupational pension schemes or assets belonging to another person.

(4) A European institution carrying on home-regulated investment business in the United Kingdom is also an investment manager.

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