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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations confer power on the Securities and Investments Board, additional to that exercisable by it under section 78(8) of the Financial Services Act 1986, to issue a certificate to the effect that an authorised unit trust scheme complies with the conditions necessary for it to enjoy the rights conferred by Council Directive No. 85/611/EEC co-ordinating the laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities.