Article 2

Group 5 (finance) of Schedule 6 to the Value Added Tax Act 1983^f1 shall be varied in accordance with the following paragraphs of this article.

For item 6A there shall be substituted the following item –

“6A

The making of arrangements for or the underwriting of any transaction within item 6.”.

After item 7 there shall be added the following item –

“8

The management of an authorised unit trust scheme or of a trust based scheme by the operator of the scheme.”.

After Note 4 there shall be added the following Notes –

“(5)

Item 6A includes the introduction to a person effecting transactions in securities or secondary securities within item 6 of a person seeking to acquire or dispose of such securities.

(6)

In item 8 –

(a)

“authorised unit trust scheme” and “operator” have the same meanings as in section 207(1) of the Financial Services Act 1986^f2;

(b)

“trust based scheme” has the same meaning as in regulation 2(1)(b) of the Financial Services Act 1986 (Single Property Schemes) (Exemption) Regulations 1989^f3.”.