PART II SPECIFIED ACTIVITIES

Chapter XCollective Investment Schemes

The activities

Establishing etc. a collective investment scheme51.

(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.