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 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.