PART 3Interpretation
17. In this Schedule—
“collective investment scheme” has the meaning given in section 235 of the 2000 Act;
“companies” includes companies established under the law of any territory outside the United Kingdom;
“government loan” means a loan—
to Her Majesty’s Government in the United Kingdom; or
to the Government of the Isle of Man;
“listed securities” means securities quoted on a recognised stock exchange;
“loan” does not include—
investing money in registered securities to which section 1 of the Stock Transfer Act 1963(1) applies (transfer by stock transfer forms) or in listed securities; or
depositing money with a relevant institution,
and “lent” must be understood in that way;
“open-ended investment company” means an open-ended investment company as defined in section 236 of the 2000 Act which is an undertaking for collective investment schemes to which Council Directive No. 85/611/EEC co-ordinating the laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities, as last amended by European Parliament and Council Directive No. 2001/108/EC(2) applies;
“relevant institution” means—
a person who has permission under Part 4 of the 2000 Act (permission to carry on regulated activities) to accept deposits;
an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 (EEA passport rights) to that Act(3) which has permission under paragraph 15(1) of that Schedule(4) (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to accept deposits; or
a person who is an exempt person in respect of accepting deposits as a result of an order made under section 38(1) of that Act (exemption orders);
“single holding” means investments—
in securities of, or in loans to or deposits with, any one body;
in units or other shares of the investments subject to the trust of any one unit trust scheme; or
in transactions involving any one piece of land or other property;
“unlisted securities” means securities which are not quoted on a recognised stock exchange.