SCHEDULE 1 

PART IIControlled Investments

Interpretation28

In this Schedule—

  • F10“AIFM” has the meaning given in the Regulated Activities Order;

  • F6“agreement provider” has the meaning given in paragraph (3) of article 63J of the Regulated Activities Order, read with paragraphs (6) and (7) of that article;

  • “agreement seller” has the meaning given in article 63J(3) of the Regulated Activities Order

  • F8“borrower” has the meaning given by article 60L of the Regulated Activities Order;

  • “buying” includes acquiring for valuable consideration;

  • F5“Commission Regulation” F11means Commission Regulation 1287/2006 of 10 August 2006F11has the meaning given in the Regulated Activities Order ;

  • F8“consumer hire agreement” has the meaning given by article 60N of the Regulated Activities Order;

  • “contract of insurance” has the meaning given in the Regulated Activities Order;

  • “contractually based investment” means—

    1. a

      rights under a qualifying contract of insurance;

    2. b

      any investment of the kind specified by any of paragraphs 21, 22, 23 and 25;

    3. c

      any investment of the kind specified by paragraph 27 so far as relevant to an investment falling within (a) or (b);

  • F5“credit institution” has the meaning given in the Regulated Activities Order;

  • F8“hirer” has the meaning given by article 60N of the Regulated Activities Order;

  • F1“home purchase provider” and “home purchaser” have the meanings given in article 63F(3) of the Regulated Activities Order;

  • F5“investment firm” has the meaning given in the Regulated Activities Order;

  • “investment services and activities” has the meaning given in the Regulated Activities Order;

  • F8“lender” has the meaning given by article 60L of the Regulated Activities Order;

  • F5“management company” has the meaning given in the Regulated Activities Order;

  • “market operator” has the meaning given in the Regulated Activities Order;

  • F10“markets in financial instruments directive” means Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments (recast);

  • “MiFID instrument” has the meaning given in article 25D(2) of the Regulated Activities Order;

  • “multilateral trading facility” has the meaning given in the Regulated Activities Order;

  • F10“non-equity MiFID instrument” has the meaning given in article 25DA of the Regulated Activities Order;

  • F4“occupational pension scheme” has the meaning given by section 1 of the Pension Schemes Act 1993 but with paragraph (b) of the definition omitted;

  • F10“organised trading facility” has the meaning given in the Regulated Activities Order;

  • F2“plan provider” has the meaning given by paragraph (3) of article 63B of the Regulated Activities Order, read with paragraphs (7) and (8) of that article;

  • “property” includes currency of the United Kingdom or any other country or territory;

  • “qualifying funeral plan contract” has the meaning given by paragraph 9;

  • F8“regulated consumer hire agreement” has the meaning given by article 60N of the Regulated Activities Order;

  • F8“regulated credit agreement” has the meaning given by article 60B of the Regulated Activities Order;

  • F3“regulated home purchase plan” has the meaning given in article 63F(3) of the Regulated Activities Order;

  • “regulated home reversion plan” and “reversion seller” have the meanings given in article 63B(3) of the Regulated Activities Order;

  • F7“regulated sale and rent back agreement” has the meaning given in article 63J(3) of the Regulated Activities Order;

  • F9“relevant credit agreement” means a credit agreement (within the meaning given by article 60B of the Regulated Activities Order) other than—

    1. a

      a regulated mortgage contract or a regulated home purchase plan (within the meaning of that Order); or

    2. b

      a buy-to-let mortgage contract as defined in article 4 of the Mortgage Credit Directive Order 2015;

  • F8“relevant recipient of credit” has the meaning given by article 60L of the Regulated Activities Order.

  • “security” means a controlled investment falling within any of paragraphs 14 to 20 F12or 23A 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—

    1. a

      in the case of an investment consisting of rights under a contract—

      1. i

        surrendering, assigning or converting those rights; or

      2. ii

        assuming the corresponding liabilities under the contract;

    2. b

      in the case of an investment consisting of rights under other arrangements, assuming the corresponding liabilities under the arrangements; and

    3. c

      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.