51.—(1) The following are specified kinds of activity—
(a)establishing, operating or winding up a collective investment scheme;
(b)acting as trustee of an authorised unit trust scheme;
(c)acting as the depositary or sole director of an open-ended investment company.
(2) In this article, “trustee", “authorised unit trust scheme" and “depositary" have the meaning given by section 237 of the Act.
Textual Amendments
F1Art. 51A and cross-heading inserted (21.8.2002) by The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2002 (S.I. 2002/1776), arts. 1, 3(10)
51A. Article 51 is subject to the exclusion in article 72A (information society services).]