4.—(1) This regulation describes those persons who count as an “investment manager” for these Regulations.
(2) A person is an investment manager if he is authorised under the Financial Services Act 1986(1) to manage the assets of occupational pension schemes.
(3) A person is also an investment manager if he—
(a)does not transact investment business (within the meaning of that Act) from a permanent place of business maintained by him in the United Kingdom;
(b)has a head office situated outside the United Kingdom in a member State;
(c)is recognised by the law of that State as a national of a member State;
(d)is authorised under that law to engage in one or more of the actitivies specified in Part II of Schedule 1 to the Financial Services Act 1986 (which lists different sorts of investment business); and
(e)is not prevented by that law from managing the assets of occupational pension schemes or assets belonging to another person.
(4) A European institution carrying on home-regulated investment business in the United Kingdom is also an investment manager.