44. U.K.
[F1(A1) A charity is exempt from the general prohibition in respect of any regulated activity of the kind specified by article 36H of the Regulated Activities Order (operating an electronic system in relation to lending) which it carries on in relation to an article 36H agreement (within the meaning given in article 36H(4) of the Regulated Activities Order) under or in connection with which the only amount payable to the lender is the amount of credit provided.]
(1) A charity is exempt from the general prohibition in respect of any regulated activity of the kind specified by [F2articles 51ZA to 51ZE of the Regulated Activities Order (managing or acting as trustee or depositary of a UCITS or an AIF, or establishing etc. a collective investment scheme)] which it carries on in relation to a fund established under—
(a)section 22A of the Charities Act 1960 M1;
(b)section 25 of the Charities Act 1993 M2; or
(c)section 25 of the Charities Act (Northern Ireland) 1964 M3.
(2) A charity is exempt from the general prohibition in respect of any regulated activity of the kind specified by [F3articles 51ZA to 51ZE of the Regulated Activities Order (managing or acting as trustee or depositary of a UCITS or an AIF, or establishing etc. a collective investment scheme)] which it carries on in relation to a pooling scheme fund established under—
(a)section 22 of the Charities Act 1960; or
(b)section 24 of the Charities Act 1993.
(3) In sub-paragraph (2), “pooling scheme fund" means a fund established by a common investment scheme the trusts of which provide that property is not to be transferred to the fund except by or on behalf of a charity, the charity trustees (within the meaning of section 97(1) of the Charities Act 1993) of which are the trustees appointed to manage the fund.
Textual Amendments
F1Sch. para. 44(A1) inserted (1.4.2014) by The Financial Services and Markets Act 2000 (Consumer Credit) (Miscellaneous Provisions) (No. 2) Order 2014 (S.I. 2014/506), arts. 1(4), 2(2)
F2Words in Sch. para. 44(1) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 8(3)
F3Words in Sch. para. 44(2) substituted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 8(3)
Marginal Citations
M11960 c. 58. Inserted by section 16 of the Charities Act 1992 (c. 41); repealed by the Charities Act 1993 (c. 10) Schedule 7.