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The Financial Services (Schemes Constituted in Other Member States) Regulations 1989
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- 1989 No. 1585
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
These Regulations prescribe the requirements which a collective investment scheme must satisfy if, subject to the provisions of section 86(2) of the Financial Services Act 1986, it is to be a recognised scheme under section 86 of that Act. Section 86 of the Financial Services Act implements a Community obligation arising by virtue of Council Directive No. 85/611/EEC co-ordinating the laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities.
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