10A

In any units of a gilt unit trust scheme.

A gilt unit trust scheme is an authorised unit trust scheme, or a recognised scheme, the objective of which is—

a

to invest at least 90% of the property of the scheme in loan stock, bonds or other instruments creating indebtedness which—

i

are transferable; and

ii

are issued or guaranteed by the government of the United Kingdom or of any other country or territory, by a local authority in the United Kingdom or in a relevant state, or by an international organisation the members of which include the United Kingdom or a relevant state;

b

to invest the remainder of the property of the scheme in shares, debentures or other instruments creating or acknowledging indebtedness, certificates representing securities or units in a collective investment scheme.

Sub-paragraphs (a) and (b) must be read with—

i

section 22 of the Financial Services and Markets Act 2000;

ii

any relevant order under that section; and

iii

Schedule 2 to that Act.

6

In any units of a recognised scheme which does not fall within Part 2 of this Schedule.

4A

In this Schedule—

• “authorised unit trust scheme” and “recognised scheme” have the meaning given by section 237(3) of the Financial Services and Markets Act 2000;

• “collective investment scheme” has the meaning given by section 235 of that Act; and

• “recognised investment exchange” has the meaning given by section 285 of that Act.