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Regulation 30 Schemes authorised before 1st January 2009 – genuine diversity of ownership condition

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Where a qualified investor scheme is authorised by the Financial Services Authority before 1st January 2009, the scheme shall be deemed to have met the genuine diversity of ownership condition in the inserted regulation 14C (regulation 11 of these Regulations) for the period—

(a)

beginning on 1st January 2009; and

(b)

ending on the date on which the scheme’s first accounting period beginning on or after 1st January 2009 ends.