C1Part XVII Collective Investment Schemes

Annotations:
Modifications etc. (not altering text)

C1Chapter V Recognised Overseas Schemes

F1Schemes authorised in approved countries

Annotations:
Amendments (Textual)

271ASchemes authorised in approved countries

1

A collective investment scheme which is authorised under the law of a country or territory outside the United Kingdom is a recognised scheme if—

a

regulations made by the Treasury approving the country or territory for the purposes of this section are in force,

b

the scheme is of a description specified in the regulations in relation to which the country or territory is approved,

c

the operator of the scheme has applied to the FCA for recognition of the scheme,

d

the FCA has made (and has not revoked) an order granting the application, and

e

no direction under section 271L (suspension of recognition) has effect in relation to the scheme.

2

In making regulations under this section, the Treasury may have regard to any matter that they consider relevant (and see the restrictions in sections 271B and 271C).