PART III SPECIFIED INVESTMENTS
F1Emission allowances82B
1
Subject to paragraph (2), emission allowances consisting of any units recognised for compliance with the requirements of the emission allowance trading directive.
2
Paragraph (1) only applies to emission allowances in relation to which—
F2a
an investment firm or qualifying credit institution is providing or performing investment services and activities on a professional basis,
b
a management company which has a Part 4A permission to do so is providing the investment service specified in paragraph 4 or 5 of Part 3 of Schedule 2 or the ancillary service specified in paragraph 1 of Part 3A of that Schedule,
c
a market operator is providing the investment service specified in paragraph 8 or 9 of Part 3 of that Schedule, or
d
a full-scope UK AIFM which has a Part 4A permission to do so is providing the investment service specified in paragraph 1, 4 or 5 of Part 3 of that Schedule or the ancillary service specified in paragraph 1 of Part 3A of that Schedule.