{
  "url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996/schedule-2/paragraph-5",
  "json_url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996/schedule-2/paragraph-5.json",
  "legislation": "uksi/1996/3008",
  "legislation_title": "The Friendly Societies (Insurance Business) (Amendment) Regulations 1996",
  "legislation_url": "https://openlegislation.uk/friendly-societies-insurance-business-amendment-regulations-1996",
  "path": "schedule/2/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": null,
  "text": "Units or other beneficial interests in—\n(a) a scheme falling within Council Directive 85/611/EEC of 20th December 1985 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investments in transferable securities;\n(b) a collective investment fund which satisfies the following conditions—\n(i) the property of the fund comprises property of any of the descriptions in paragraphs 1 to 10 of this Schedule;\n(ii) the units are readily realisable at a price which represents the net value per unit of the assets and liabilities of the fund; and\n(iii) the price at which the units may be bought and sold is published regularly.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1996/3008/schedule/2/paragraph/5",
    "retrieved_at": "2026-10-29T12:31:09.195562+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}