Part XVIICollective Investment Schemes

Chapter VRecognised Overseas Schemes

Schemes constituted in other EEA States

266Disapplication of rules

1

Apart from—

a

financial promotion rules, and

b

rules under section 283(1),

rules made by the Authority under this Act do not apply to the operator, trustee or depositary of a scheme in relation to the carrying on by him of regulated activities for which he has permission in that capacity.

2

“Scheme” means a scheme which is a recognised scheme by virtue of section 264.