# The Personal Equity Plan (Amendment No. 2) Regulations 1995, Regulation 5: Amendments to the principal Regulations


In regulation 11(2)—
(a) for sub-paragraph (b) there shall be substituted—
“(b) a plan manager must be—
(i) an authorised person within the meaning of Chapter III of Part I of the Financial Services Act 1986 (“the 1986 Act”), or
(ii) a European institution which may carry on home-regulated investment business in the United Kingdom in accordance with the Banking Co-ordination (Second Council Directive) Regulations 1992;”
(b) at the end of sub-paragraph (c) there shall be added—
“; and
(d) a plan manager who is a European institution or a relevant authorised person and who does not have a branch or business establishment in the United Kingdom, or has such a branch or business establishment but does not intend to carry out all his functions as a plan manager at that branch or business establishment, must fulfil one of the three requirements specified in regulation 11A.”

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Source: https://www.legislation.gov.uk/uksi/1995/3287/regulation/5 (the official version)
Page: https://openlegislation.uk/personal-equity-plan-amendment-no-2-regulations-1995/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.