SCHEDULE 7MINOR AND CONSEQUENTIAL AMENDMENTS

PART IISubordinate Legislation

The Uncertificated Securities Regulations 1995 (S.I. 1995/3272)

12.

(1)

The Uncertificated Securities Regulations 1995 are amended as follows.

(2)

In regulation 3(1) (interpretation)—

(a)

for “the 1986 Act”, substitute “the Financial Services and Markets Act 2000”;

(b)

in the definition of “unit of security”—

(i)

for “investment company with variable capital” substitute “open-ended investment company”;

(ii)

for the references to the “Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996” substitute “the Open-Ended Investment Companies Regulations 2001”.

(3)

In regulation 19(9) (entries on registers), for “investment company with variable capital (within the meaning of the Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996)” substitute “open-ended investment company (within the meaning of the Open-Ended Investment Companies Regulations 2001)”.