The Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001

Interpretation

2.  In this Order—

“the Act” means the Financial Services and Markets Act 2000;

“the 1988 Act” means the Income and Corporation Taxes Act 1988(1);

“authorised unit trust scheme” has the meaning given by section 237(3) of the Act;

“contract of insurance” and “contract of long term insurance” have the meaning given by article 3(1) of the Regulated Activities Order;

“feeder fund” means an authorised unit trust scheme the sole object of which is investment in units of a single authorised unit trust scheme or shares in a single open-ended investment company;

“franchise arrangements” means arrangements under which a person earns profits or income by exploiting a right conferred by the arrangements to use a trade mark or design or other intellectual property or the good-will attached to it;

“funeral plan contract” has the meaning given by article 59 of the Regulated Activities Order;

“individual pension account” has the meaning given by regulation 4 of the Personal Pension Schemes (Restriction on Discretion to Approve) (Permitted Investments) Regulations 2001(2);

“occupational pension scheme” and “personal pension scheme” have the meaning given by section 1 of the Pension Schemes Act 1993(3);

“the operator” has the meaning given by section 237(2) of the Act;

“personal pension unit trust” means a personal pension scheme which is an authorised unit trust scheme of a kind mentioned in Part I of Schedule 1 to the Personal Pension Schemes (Appropriate Schemes) Regulations 1997(4);

“recognised scheme” has the meaning given by section 237(3) of the Act;

“the Regulated Activities Order” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(5);

“timeshare rights” has the meaning given by section 1 of the Timeshare Act 1992(6).

(1)

1988 c. 1.

(2)

S.I. 2001/117.

(3)

1993 c. 48. The definition of “personal pension scheme” in section 1 was amended by the Welfare Reform and Pensions Act 1999 (c. 30), Schedule 2, para. 3(1)(a).

(4)

S.I. 1997/470.

(5)

S.I. 2001/544.

(6)

1992 c. 35. Section 1 was amended by the Timeshare Regulations 1997 (S.I. 1997/1081).