Regulation 2 Interpretation

In regulation 1(5) of the Principal Regulations (citation, commencement, application and interpretation), after the definition of “housing land”, there shall be inserted—

• ““money market fund” means a collective investment scheme which—

  1. (a)

     in accordance with the Council Directive 85/611/EEC^f1 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investments in transferable securities, is an undertaking for collective investment in transferable securities subject to that Directive; and

  2. (b)

     is either a unit trust scheme authorised under section 243 of the Financial Services and Markets Act 2000^f2 or a collective investment scheme recognised under section 264 of that Act;

• “multilateral development bank” means an international financial institution having as one of its objects economic development, either generally or in any region of the world;”.