# The Personal Equity Plan (Amendment)Regulations 2000, Regulation 3


In regulation 2(1)(b) after the definition of “authorised unit trust” there shall be inserted the following definition—
““depositary interest” means the rights of the person mentioned in paragraph (b), under a certificate or other record (whether or not in the form of a document) acknowledging—
(a) that a person holds relevant investments or evidence of the right to them, and
(b) that another person is entitled to rights in or in relation to those or identical relevant investments, including the right to receive such investments, or evidence of the right to them or the proceeds from such investments, from the person mentioned in paragraph (a).
In this definition “relevant investments” means investments which—
(i) in the case of investment under a general plan, are exclusively qualifying investments for general plans falling within any of regulation 6(2)(a) to (ba), or
(ii) in the case of investment under a single company plan are exclusively shares which are either qualifying investments for single company plans, or shares transferred in accordance with regulation 4A(2) or shares purchased in accordance with regulation 5(6)(b),
and the reference to rights in paragraph (b) of this definition is a reference to rights which are exclusively rights in or in relation to relevant investments;”.

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Source: https://www.legislation.gov.uk/uksi/2000/3109/regulation/3 (the official version)
Page: https://openlegislation.uk/personal-equity-plan-amendmentregulations-2000/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.