SCHEDULES

SCHEDULE 8 Powers to Provide Services

Part II General Restrictions On Services

5

Acquiring or holding relevant investments shall not be treated as excluded by paragraph 1 above where it arises out of—

a

any element of investment services comprising—

i

acquiring or holding relevant investments as a nominee,

ii

establishment and management of pension schemes,

iii

establishment and management of personal equity plans, or

iv

establishment and management of collective investment schemes,

b

the service of trusteeship, or

c

the service of executorship.