SCHEDULES

C1C2F2SCHEDULE 2A EXCEPTIONS TO PROHIBITION ON APPOINTMENT OF ADMINISTRATIVE RECEIVER: SUPPLEMENTARY PROVISIONS

Annotations:
Amendments (Textual)
F2

Sch. 2A inserted (15.9.2003) by 2002 c. 40, s. 250(2), 279, Sch. 18 (with s. 249(6)); S.I. 2003/2093, art. 2(1), Sch. 1 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))

Modifications etc. (not altering text)

2C2Capital market investment

1

For the purposes of section 72B an investment is a capital market investment if it—

a

is within article 77 F1or 77A of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (debt instruments), and

b

is rated, listed or traded or designed to be rated, listed or traded.

2

In sub-paragraph (1)—

  • “rated” means rated for the purposes of investment by an internationally recognised rating agency,

  • “listed” means admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (c. 8) (interpretation), and

  • “traded” means admitted to trading on a market established under the rules of a recognised investment exchange or on a foreign market.

3

In sub-paragraph (2)—

  • “recognised investment exchange” has the meaning given by section 285 of the Financial Services and Markets Act 2000 (recognised investment exchange), and

  • “foreign market” has the same meaning as “relevant market” in article 67(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 (S.I. 2001/1335) (foreign markets).