- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Investment Bank (Amendment of Definition) and Special Administration (Amendment) Regulations 2017 No. 443
3. In section 232 of the Banking Act 2009 (definition of “investment bank”)—
(a)in subsection (2) after paragraph (a) insert—
“(aa)managing an AIF or a UCITS,
(ab)acting as trustee or depositary of an AIF or a UCITS,”; and
(b)after subsection (2) insert—
“(2A) Subsection (2) must be read with section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under section 22(1).”.
See the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544), as amended by S.I. 2013/1773 (for the activity of managing an AIF or a UCITS see articles 51ZA and 51ZC, and for the activity of acting as trustee or depositary of an AIF or a UCITS see articles 51ZB and 51ZD).
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