{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-269",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-269.json",
  "legislation": "uksi/2001/3649",
  "legislation_title": "The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001",
  "path": "article/269",
  "kind": "article",
  "number": "269",
  "heading": "Manner of investment",
  "text": "(1) Schedule 1 to the Trustee Investments Act 1961 (manner of investment) is amended as follows.\n(2) In Part 2, for paragraph 10A substitute—\n“10A In any units of a gilt unit trust scheme.\nA gilt unit trust scheme is an authorised unit trust scheme, or a recognised scheme, the objective of which is—\n(a) to invest at least 90% of the property of the scheme in loan stock, bonds or other instruments creating indebtedness which—\n(i) are transferable; and\n(ii) are issued or guaranteed by the government of the United Kingdom or of any other country or territory, by a local authority in the United Kingdom or in a relevant state, or by an international organisation the members of which include the United Kingdom or a relevant state;\n(b) to invest the remainder of the property of the scheme in shares, debentures or other instruments creating or acknowledging indebtedness, certificates representing securities or units in a collective investment scheme.\nSub-paragraphs (a) and (b) must be read with—\n(i) section 22 of the Financial Services and Markets Act 2000;\n(ii) any relevant order under that section; and\n(iii) Schedule 2 to that Act.”.\n(3) In Part 3, in paragraph 3, the words “within the meaning of the Financial Services Act 1986” are repealed.\n(4) In that Part, for paragraph 6 substitute—\n“6. In any units of a recognised scheme which does not fall within Part 2 of this Schedule.”.\n(5) In Part 4, in paragraphs 2 and 2A, the words “within the meaning of the Financial Services Act 1986” are repealed.\n(6) In that Part, after paragraph 4 insert—\n“4A In this Schedule—\n“authorised unit trust scheme” and “recognised scheme” have the meaning given by section 237(3) of the Financial Services and Markets Act 2000;\n“collective investment scheme” has the meaning given by section 235 of that Act; and\n“recognised investment exchange” has the meaning given by section 285 of that Act.”\n(7) Paragraph 6A is repealed.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Art. 269 in force at 1.12.2001, see art. 1"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "Schedule 1 has been repealed, except in so far as it is applied by or under any other enactment, by virtue of the Trustees Act 2000 (c. 29) Schedule 2 Pt. 1, paragraph 1(1)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Section 10A was inserted by the Finance Act 1982 (c. 39), s. 150, substituted by S.I. 1994/1908 article 2 and amended by S.I. 1995/768 article 3."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Paragraph 3 was substituted by the Financial Services Act 1986 (c. 60) Schedule 16, paragraph 2(b)."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Paragraph 6 was added by S.I. 1994/1908 article 3."
    },
    {
      "type": "footnote",
      "label": "f5",
      "text": "Paragraph 2 was amended by the Financial Services Act 1986 (c. 60) Schedule 16, paragraph 2(c) and by S.I. 1994/1908 article 3(1), (3). Paragraph 2A was inserted by S.I. 1994/1908 article 3(1), (4)."
    },
    {
      "type": "footnote",
      "label": "f6",
      "text": "Paragraph 6A was inserted by S.I. 1994/1908 article 3(1), (8)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/3649/article/269",
    "retrieved_at": "2026-10-29T07:23:30.014012+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}