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Paragraph 10A F1

United Kingdom

In any units of a gilt unit trust scheme. A gilt unit trust scheme is an authorised unit trust scheme, or a recognised scheme, the objective of which is—

(a)

to invest at least 90% of the property of the scheme in loan stock, bonds or other instruments creating indebtedness which—

(i)

are transferable; and

(ii)

are issued or guaranteed by the government of the United Kingdom or of any other country or territory, by a local authority in the United Kingdom or in a relevant state, or by an international organisation the members of which include the United Kingdom or a relevant state;

(b)

to invest the remainder of the property of the scheme in shares, debentures or other instruments creating or acknowledging indebtedness, certificates representing securities or units in a collective investment scheme.

Sub-paragraphs (a) and (b) must be read with—

  1. (i)

    section 22 of the Financial Services and Markets Act 2000;

  2. (ii)

    any relevant order under that section; and

  3. (iii)

    Schedule 2 to that Act.

Annotations

Textual amendments

F1

Sch. 1 Pt. II para. 10A substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 269(2)

Notes on the whole Act

Textual amendments

F1

Act ceases to have effect in part (S.) (1.4.2010) by virtue of The Local Government Investments (Scotland) Regulations 2010 (S.S.I. 2010/122), regs. 1, 4

Notes on Schedule FIRST

Modifications

C1

Sch. 1 extended (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), reg. 1(1), Sch. 2 para. 2(b)

C2

Sch. 1 extended (24.6.2003) by The Uncertificated Securities (Amendment) (Eligible Debt Securities) Regulations 2003 (S.I. 2003/1633), reg. 1(1), Sch. 2 para. 8(2)(a)