The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001

Qualifying investments for a cash component

173.  In regulation 8(2) (qualifying investments for a cash component)(1)—

(a) in sub-paragraph (a) for “an institution authorised under the Banking Act 1987” substitute “a person falling within section 840A(1)(b) of the Taxes Act”;

(b) for sub-paragraph (c) substitute—

“(c) units in, or shares of, a money market scheme;”;

(c) for sub-paragraph (d) substitute—

“(d) units in, or shares of, a fund of funds scheme, within the meaning given in regulation 2(1)(b), with the modification that for the words from “comply with” to the end there are substituted the words

• “permit the investments of the scheme, or subject to the trusts of the scheme, to consist only of units in, or shares of, money market schemes;”.”

(1)

Regulation 8(2) was relevantly amended by regulation 6 of S.I. 1998/3174.