Paragraph 8 The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019I1I2

Regulation 66 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (other duties of operator)^f1 is amended as follows.

In paragraph (1), at the beginning, for “The” substitute “Subject to paragraph (1A), the”, and

After paragraph (1) insert—

“(1A)

The requirements imposed by paragraph (1) do not apply to the operator of a stand-alone scheme or sub-fund that is a recognised scheme by virtue of regulation 62 who complies with requirements imposed by designated activity rules made under section 71N of the Financial Services and Markets Act 2000 by virtue of regulation 6 of the Consumer Composite Investments (Designated Activities) Regulations 2024.”.