Regulation 6 A UK-based scheme

A co-ownership scheme is UK-based if—

(a)

the operator and depositary of the scheme are bodies corporate incorporated in the United Kingdom,

(b)

the operator and depositary of the scheme both have a place of business in the United Kingdom from where they administer the co-ownership scheme, and

(c)

the deed setting out the arrangements which constitute the scheme^f1 is made under and governed by the law of England and Wales, Scotland or Northern Ireland and contains a statement to that effect.

Annotations

Footnotes

f1: The requirement for a deed to set out the arrangements of the scheme is set out in section 235A(3) of FISMA 2000.