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SCHEDULES

SCHEDULE 5U.K. Persons Concerned in Collective Investment Schemes

PermissionU.K.

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—U.K.

(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 [F2other than the activity of managing an AIF]

(a)the operation of the scheme;

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