Paragraph 45
A person acting in his capacity as manager or operator of a fund established under section 11 of the Trustee Investments Act 1961 M1 is exempt from the general prohibition in respect of any regulated activity of the kind specified by F1articles 51ZA to 51ZE of the Regulated Activities Order (managing or acting as trustee or depositary of a UCITS or an AIF, or establishing etc. a collective investment scheme) which he carries on in relation to that fund.
Annotations
Textual amendments
- F1
Words in Sch. para. 45 substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 8(3)
Marginal citations
- M1
1961 c. 62; amended by the Local Government Act 1963 (c. 33) Schedule 8; and by the Local Government Act 1985 (c.51) Schedule 17.