The activitiesU.K.
Establishing etc. a collective investment schemeU.K.
51.—(1) The following are specified kinds of activity—
(a)establishing, operating or winding up a collective investment scheme;
(b)acting as trustee of an authorised unit trust scheme;
(c)acting as the depositary or sole director of an open-ended investment company.
(2) In this article, “trustee", “authorised unit trust scheme" and “depositary" have the meaning given by section 237 of the Act.