Regulation 2 Persons not to be regarded as relevant persons

United Kingdom

F1(1)

For the purposes of section 213(10) of the Act (certain persons not to be regarded as relevant persons unless they elect to participate), the following categories are prescribed—

(a)

any investment firm; F2...

(b)

any credit institution F3; F4...

(c)

any insurance intermediary F5; F6...

(d)

any relevant management company F7; F8...

(e)

any relevant AIFM F9; and

(f)

any relevant mortgage intermediary.

F10(2)

The persons mentioned in paragraph (1)(a), F11(b), (c) and (f) are prescribed in relation to all authorised activities.

(3)

A relevant management company is prescribed in relation to all authorised activities other than any collective portfolio management services set out in Annex II to the UCITS directive which it is providing to a UCITS in the United Kingdom.

F12(4)

A relevant AIFM is prescribed in relation to all authorised activities other than—

(a)

any services specified by Annex I to the alternative investment fund managers directive provided in respect of an authorised trust scheme, an authorised contractual scheme or an authorised open-ended investment company; or

(b)

any activities undertaken as an authorised manager of an ELTIF, as permitted by the ELTIF Regulation.

Annotations

Textual amendments

F1: Reg. 2(1): reg. 2 renumbered as reg. 2(1) (1.7.2011) by The Undertakings for Collective Investment in Transferable Securities Regulations 2011 (S.I. 2011/1613), regs. 1, 4(3)
F2: Word in reg. 2(a) omitted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by virtue of The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476), arts. 1(3), 15(3)(a)
F3: Reg. 2(c) and word inserted (31.10.2004 for specified purposes, 14.1.2005 in so far as not already in force) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003 (S.I. 2003/1476), arts. 1(3), 15(3)(b)
F4: Word in reg. 2(b) omitted (13.2.2004) by virtue of The Collective Investment Schemes (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/2066), regs. 1(1), 7(b)(i)
F5: Reg. 2(d) and word inserted (13.2.2004) by The Collective Investment Schemes (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/2066), regs. 1(1), 7(b)(ii)
F6: Word in reg. 2(1) omitted (22.7.2013) by virtue of The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 11(3)(a)
F7: Reg. 2(1)(e) and word inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 11(3)(b)
F8: Word in reg. 2(1) omitted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by virtue of The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 6(3)(a) (with Pt. 4)
F9: Reg. 2(1)(f) and word inserted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 6(3)(b) (with Pt. 4)
F10: Reg. 2(2)(3) inserted (1.7.2011) by The Undertakings for Collective Investment in Transferable Securities Regulations 2011 (S.I. 2011/1613), regs. 1, 4(4)
F11: Words in reg. 2(2) substituted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes, 21.3.2016 in so far as not already in force) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 6(3)(c) (with Pt. 4)
F12: Reg. 2(4) substituted (3.12.2015) by The European Long-term Investment Funds Regulations 2015 (S.I. 2015/1882), regs. 1, 7(3)