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The Official Listing of Securities (Units in Single Property Schemes) Order 1989

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Statutory Instruments

1989 No. 29

FINANCIAL SERVICES

The Official Listing of Securities (Units in Single Property Schemes) Order 1989

Made

11th January 1989

Laid before Parliament

12th January 1989

Coming into force

2nd February 1989

The Secretary of State in exercise of his powers under section 142(4) of the Financial Services Act 1986(1) hereby makes the following Order–

1.  This Order may be cited as the Official Listing of Securities (Units in Single Property Schemes) Order 1989 and shall come into force on 2nd February 1989.

2.  Section 142 of the Financial Services Act 1986 shall apply to investments falling within paragraph 6 of Schedule 1 to that Act which are units in a collective investment scheme which is exempted from section 76(1) of that Act by virtue of the Financial Services Act 1986 (Single Property Schemes) (Exemptions) Regulations 1989(2).

Francis Maude

Parliamentary Under Secretary of State,

Department of Trade and Industry

11th January 1989

Explanatory Note

(This note is not part of the Order)

This Order applies section 142 of the Financial Services Act 1986 to single property schemes (that is to say, collective investment schemes which are exempted from the provisions of section 76(1) of the Financial Services Act 1986 by virtue of the Financial Services Act 1986 (Single Property Schemes) (Exemptions) Regulations 1989). Section 142 of the Financial Services Act 1986 provides that no investment to which it applies may be admitted to the Official List of The Stock Exchange except in accordance with the provisions of Part IV of the Act.

(2)

S.I. 1989/28.

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