[ Investment companies with variable capital]U.K.
24AF1 Investment companies with variable capitalU.K.
An investment company with variable capital is an authorised person as respects—
(a)investment business which consists in operating the collective investment scheme constituted by the company; and
(b)any investment business which is carried on by the company in connection with or for the purposes of operating that scheme.
Textual Amendments
F1S. 24A inserted (6.1.1997) by S.I. 1996/2827, reg. 75, Sch. 8 para. 11