Article 2
1. Any scheme which is an open-ended investment company certified under section 156H of the Companies Act 1981(1) of Bermuda to be a United Kingdom class scheme being a scheme which is also—
(a)a Securities Scheme; or
(b)a Government and Other Public Securities Fund; or
(c)a Money Market Fund; or
(d)a Fund of Funds; or
(e)an Umbrella Fund but only an Umbrella Fund each separate part of the property of which would, if it were the property of a single collective investment scheme authorised in Bermuda, be the property of a scheme falling within sub-paragraph (a), (b), (c) or (d) above.
2. In paragraph 1 of this Schedule the expressions“Fund of Funds”,“Government and Other Public Securities Fund”,“Money Market Fund”,“Securities Scheme” and“Umbrella Fund” have the meanings respectively given to them in The Companies (The United Kingdom Class Scheme Bye-laws) Regulations 1988(2).
Act No. 59 of 1981; the Companies Act 1981 has been amended in relevant respects by the Companies Amendment Act 1988 (Act No. 52 of 1988).
B.R. No. 88/88, made by the Minister of Finance of Bermuda in exercise of the powers conferred by section 156P of the Companies Act 1981 of Bermuda.