# The Financial Services (Schemes Constituted in Other Member States) Regulations 1989, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations prescribe the requirements which a collective investment scheme must satisfy if, subject to the provisions of section 86(2) of the Financial Services Act 1986, it is to be a recognised scheme under section 86 of that Act. Section 86 of the Financial Services Act implements a Community obligation arising by virtue of Council Directive No. 85/611/EEC co-ordinating the laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities.

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Source: https://www.legislation.gov.uk/uksi/1989/1585/note (the official version)
Page: https://openlegislation.uk/financial-services-schemes-constituted-in-other-member-states-regulations-1989/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.