Paragraph 7 Certain funds relating to leasehold propertyF1
United Kingdom
Arrangements do not amount to a collective investment scheme if the rights or interests of the participants are rights or interests—
in a fund which is a trust fund within the meaning of section 42(1) of the Landlord and Tenant Act 1987 or which would be such a trust fund if the landlord were not an exempt landlord within the meaning of section 58(1) of that Act; F2or
in money held in a designated account by the scheme administrator under a tenancy deposit scheme within the meaning of section 212(2) of the Housing Act 2004 F3. ; or
in money held in an authorised deposit scheme within the meaning of section 47 (deposit schemes: interpretation) of the Renting Homes (Wales) Act 2016.
Annotations
Textual amendments
- F1
Sch. para. 7 substituted (6.4.2007) by The Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2007 (S.I. 2007/800), arts. 1, 2(2); S.I. 2007/305, art. 2; S.I. 2007/1068, art. 2(a)
- F2
Word in Sch. para. 7(a) omitted (W.) (1.12.2022) by virtue of The Renting Homes (Wales) Act 2016 (Consequential Amendments to Secondary Legislation) Regulations 2022 (S.I. 2022/907), reg. 1(2), Sch. 1 para. 20(a) (as amended by S.I. 2022/1077, regs. 1(2), 2(c))
- F3
Sch. para. 7(c) and word substituted for full stop (W.) (1.12.2022) by The Renting Homes (Wales) Act 2016 (Consequential Amendments to Secondary Legislation) Regulations 2022 (S.I. 2022/907), reg. 1(2), Sch. 1 para. 20(b)