Financial Services and Markets Act 2000 (c. 8)

SCHEDULES

Section 36.

SCHEDULE 5 U.K. Persons Concerned in Collective Investment Schemes

Authorisation U.K.

1 F1 (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U.K.

F1 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) An authorised open-ended investment company is an authorised person.

[F2 (4) A body—

(a) incorporated by virtue of regulations made under section 1 of the Open-Ended Investment Companies Act (Northern Ireland) 2002 in respect of which an authorisation order is in force, and

[F3 (b) which is a UCITS as defined in section 236A,]

is an authorised person.

(5) “Authorisation order” means an order made under (or having effect as made under) any provision of those regulations which is made by virtue of section 1(2)(1) of that Act (provision corresponding to Chapter 3 of Part 17 of the Act).]

Textual Amendments

F1 Sch. 5 para. 1(1)(2) omitted (31.12.2020) by virtue of The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 32(2)(a) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F2 Sch. 5 para. 1(4)(5) inserted (13.2.2004) by The Collective Investment Schemes (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/2066), reg 10(a)

F3 Sch. 5 para. 1(4)(b) substituted (31.12.2020) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 32(2)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

Permission U.K.

2 F4 (1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . U.K.

(2) A person authorised as a result of paragraph 1(3) [F5 or (4)] has permission to carry on, so far as it is a regulated activity [F6 other than the activity of managing an AIF]—

(a) the operation of the scheme;

(b) any activity in connection with, or for the purposes of, the operation of the scheme.

Textual Amendments

F4 Sch. 5 para. 2(1) omitted (31.12.2020) by virtue of The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 32(3) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

F5 Words in Sch. 5 para. 2(2) inserted (13.2.2004) by The Collective Investment Schemes (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/2066), reg 10(b)

F6 Words in Sch. 5 para. 2(2) inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 1 para. 35