Regulation 2
The requirements prescribed for the purposes of section 86 of the Financial Services Act 1986 are that the collective investment scheme is one which, in accordance with Council Directive No. 85/611/EEC co-ordinating the laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securitiesf1, is an undertaking for collective investment in transferable securities subject to that Directive.
Annotations
Footnotes
- f1
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O.J. No. L375/3. Council Directive No. 85/611/EEC has been amended by Council Directive No 88/220/EEC (O.J. No. L100/31) articles 1 and 2 of Council Directive No. 85/611/EEC contain provisions as to the undertakings which are subject to the Directive.