66.—(1) Where—
(a)a scheme was recognised under section 86 of the Financial Services Act or recognised for the purposes of that Act by virtue of paragraph 10 of Schedule 15 to that Act; and
(b)that scheme is a collective investment scheme constituted in another EEA State within the meaning of section 264(1),
the scheme is to be treated after commencement as a recognised scheme under section 264.
(2) For the purposes of paragraph 1(1) and 2(1) of Schedule 5, “recognised” includes recognised by virtue of this article.