28. In this Schedule—
“buying” includes acquiring for valuable consideration;
“contract of insurance” has the meaning given in the Regulated Activities Order;
“contractually based investment” means—
rights under a qualifying contract of insurance;
any investment of the kind specified by any of paragraphs 21, 22, 23 and 25;
any investment of the kind specified by paragraph 27 so far as relevant to an investment falling within (a) or (b);
“occupational pension scheme” has the meaning given by section 1 of the Pensions Schemes Act 1993 M1;
“property” includes currency of the United Kingdom or any other country or territory;
“qualifying funeral plan contract” has the meaning given by paragraph 9;
“security” means a controlled investment falling within any of paragraphs 14 to 20 or, so far as relevant to any such investment, paragraph 27;
“selling”, in relation to any investment, includes disposing of the investment for valuable consideration, and for these purposes “disposing” includes—
in the case of an investment consisting of rights under a contract—
surrendering, assigning or converting those rights; or
assuming the corresponding liabilities under the contract;
in the case of an investment consisting of rights under other arrangements, assuming the corresponding liabilities under the arrangements; and
in the case of any other investment, issuing or creating the investment or granting the rights or interests of which it consists;
“syndicate” has the meaning given in the Regulated Activities Order.
Marginal Citations
M1The definition of occupational pension scheme in section 1 has been amended by the Pensions Schemes Act 2004 (c. 35), section 239.