OpenLegislation

Regulation 11 Amendment of the Child Trust Funds Regulations 2004

Original text. Later amendments are not shown.

In regulation 2 (interpretation), in paragraph (1)—

(a)

omit the definitions of “EEA Agreement” and “EEA State”f1;

(b)

for the definition of “European institution”f2 substitute—

  • ““European institution” means—

    1. (a)

      a person who is treated as having permission to carry on a regulated activity in the United Kingdom under Part 4A of the Financial Services and Markets Act 2000f3 by regulation 8, 11, 28 or 34 of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018f4; or

    2. (b)

      an EEA firm (within the meaning of Article 2(3G) of the Financial Services and Markets Act 2000 (Gibraltar) Order 2001f5 of the kind mentioned in paragraph 5(a) to (d), (f) and (h) of Schedule 3 to the Financial Services and Markets Act 2000f6 which is an authorised person for the purposes of that Act as a result of qualifying for authorisation under paragraph 12(1) to (4) and (7) of that Schedule.”; and

(c)

for the definition of “recognised UCITS”f7 substitute—

  • ““recognised UCITS” means—

    1. (a)

      a UCITS within the meaning given by section 236A of the Financial Services and Markets Act 2000f8; or

    2. (b)

      an undertaking established in Gibraltar which is a UCITS under the law of Gibraltar implementing Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securitiesf9.”.

Annotations

Footnotes

f1

The definitions of “EEA Agreement” and “EEA State” were substituted by regulation 3 of S.I. 2013/1744. “EEA Agreement” and “EEA State” are defined by Schedule 1 to the Interpretation Act 1978.

f2

The definition of “European institution” was amended by regulation 3 of S.I. 2014/649.

f3

2000 c. 8. Part 4A was inserted by section 11(2) of the Financial Services Act 2012 (c. 21).

f4

S.I. 2018/1149, amended by S.I. 2019/405.

f5

S.I. 2001/3084; relevant amending instruments are S.I. 2005/1, 2006/1805, 2007/2932, 2007/3254, 2012/2017, 2013/3115, 2015/910, 2018/546 and 2019/589.

f6

2000 c. 8. Paragraph 5 of Schedule 3 has been relevantly amended by S.I. 2003/1473, 2007/126, 2012/1906, 2013/3115 and 2013/1773.

f7

The definition of “recognised UCITS” was inserted by S.I. 2010/582.

f8

Section 236A was inserted by S.I. 2019/325.

f9

OJ L No. 302, 17.11.2009, p.32. Directive 2009/65/EC was amended by Directive 2014/91/EU, OJ L No. 257, 28.08.2014, p.1.