Schemes involving the issue of certificates representing investments U.K.
15. Arrangements do not amount to a collective investment scheme if the rights or interests of the participants are investments of the kind specified by article 80 of the Regulated Activities Order (certificates representing certain securities).
Commencement Information
I1Sch. para. 15 in force 1.12.2001 see reg. 1 and S.I. 2001/3538, art. 2