SCHEDULE 1Kinds of Unit Trust Scheme that may be an Appropriate Scheme
Part IKinds of Unit Trust Scheme
1.
An authorised securities scheme.
2.
A feeder fund, but only if the scheme which is the object of its investment is an authorised securities scheme, an investment company with variable capital, a money market fund, or a fund of funds of a kind mentioned in this Part.
3.
A fund of funds, but only if the schemes which are the object of its investment are authorised securities schemes, investment companies with variable capital, or money market funds.
4.
A money market fund.
Part IIDefinitions
In this Schedule—
“authorised securities scheme” means an authorised unit trust scheme the sole object of which is investment in transferable securities and which is not a feeder fund or a fund of funds;
“feeder fund” means an authorised unit trust scheme the sole object of which is investment in units of a single authorised unit trust scheme or shares in a single investment company with variable capital;
“fund of funds” means an authorised unit trust scheme the sole object of which is investment in units of other authorised unit trust schemes or shares in investment companies with a variable capital;
“money market fund” means an authorised unit trust scheme the sole object of which is investment in transferable securities, deposits and instruments creating or evidencing indebtedness which are not transferable securities; and
“transferable security” means any investment falling within paragraphs 1 to 6 of Schedule 1 to the Financial Services Act 1986 other than an investment title to which either cannot be transferred or can be transferred only with the consent of a third party.