SCHEDULES

SCHEDULE 5 Persons Concerned in Collective Investment Schemes

Permission

2

(1)

A person authorised as a result of paragraph 1(1) has permission to carry on, so far as it is a regulated activity—

(a)

any activity, appropriate to the capacity in which he acts in relation to the scheme, of the kind described in paragraph 8 of Schedule 2;

(b)

any activity in connection with, or for the purposes of, the scheme.

(2)

A person authorised as a result of paragraph 1(3) F1or (4) has permission to carry on, so far as it is a regulated activity—

(a)

the operation of the scheme;

(b)

any activity in connection with, or for the purposes of, the operation of the scheme.