SCHEDULE 6Consequential Amendments

Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 20018

1

The Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001 M1 is amended as follows.

2

In article 2 (interpretation)—

a

after the definition of “individual pension account” insert—

  • “long-term holiday product contract” has the meaning given by regulation 8 of the Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010;”; and

    1. b

      for the definition of “timeshare rights” substitute—

  • “timeshare contract” has the meaning given by regulation 7 of the Timeshare, Holiday Products, Resale and Exchange Contracts Regulations 2010.”.

3

In the Schedule (arrangements not amounting to a collective investment scheme), for paragraph 13 substitute—

13Timeshare and long-term holiday product schemes

Arrangements do not amount to a collective investment scheme if the rights or interests of the participants are rights under a timeshare contract or a long-term holiday product contract.