# The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001, Article 123: Qualifying investments

Extent: E+W+S+N.I.

(1) Amend regulation 6 (qualifying investments) as follows.
(2) In paragraph (2)—
(a) for sub-paragraph (g) substitute—
“(g) units in, or shares of, a securities scheme or a warrant scheme, in circumstances where the scheme satisfies the condition specified in paragraph (8);”;
(b) for sub-paragraph (j) substitute—
“(j) units in, or shares of, a fund of funds scheme, in circumstances where the scheme satisfies the condition specified in paragraph (9);”.
(3) In paragraph (4)(a) for paragraphs (iv) and (v) substitute—
“(iv) units in or shares in, or rights to units in or shares in, an authorised fund or a part of an umbrella scheme;”.
(4) In paragraph (8) for “company” substitute “scheme” (twice).
(5) For paragraph (9) substitute—
“(9) The condition specified in this paragraph is that not more than 50 per cent. in value of the investments of the scheme, or subject to the trusts of the scheme, are—
(a) units in, or shares of, a securities scheme or a warrant scheme, or
(b) units in, or shares of, a relevant UCITS,
where the securities scheme, warrant scheme or UCITS does not satisfy the condition in paragraph (8).”.

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Source: https://www.legislation.gov.uk/uksi/2001/3629/article/123 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-taxes-order-2001/article-123
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.