SCHEDULE
PART IVPERSONS EXEMPT IN RESPECT OF PARTICULAR REGULATED ACTIVITIES
Charities
44
1
A charity is exempt from the general prohibition in respect of any regulated activity of the kind specified by article 51 of the Regulated Activities Order (establishing etc. a collective investment scheme) which it carries on in relation to a fund established under—
a
section 22A of the Charities Act 196028;
b
section 25 of the Charities Act 199329; or
c
section 25 of the Charities Act (Northern Ireland) 196430.
2
A charity is exempt from the general prohibition in respect of any regulated activity of the kind specified by article 51 of the Regulated Activities Order (establishing etc. a collective investment scheme) which it carries on in relation to a pooling scheme fund established under—
a
section 22 of the Charities Act 1960; or
b
section 24 of the Charities Act 1993.
3
In sub-paragraph (2), “pooling scheme fund” means a fund established by a common investment scheme the trusts of which provide that property is not to be transferred to the fund except by or on behalf of a charity, the charity trustees (within the meaning of section 97(1) of the Charities Act 1993) of which are the trustees appointed to manage the fund.