SCHEDULES

SCHEDULE 2Investment contracts

PART 3Further provision about an investment contract counterparty and a CFD counterparty

Shadow directors, etc.

15

The Secretary of State is not, by virtue of the exercise of a power conferred by or by virtue of this Schedule, to be regarded as—

(a)

a person occupying in relation to an investment contract counterparty or a CFD counterparty the position of director;

(b)

being a person in accordance with whose directions or instructions the directors of an investment contract counterparty or a CFD counterparty are accustomed to act;

(c)

exercising any function of management in an investment contract counterparty or a CFD counterparty;

(d)

a principal of an investment contract counterparty or a CFD counterparty.