2F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
(2)A person authorised as a result of paragraph 1(3) [F2or (4)] has permission to carry on, so far as it is a regulated activity [F3other 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
F1Sch. 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)
F2Words 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)
F3Words 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