In these Regulations—

• “the 1986 Act” means the Insolvency Act 1986 M1;

• “the 1989 Order” means the Insolvency (Northern Ireland) Order 1989 M2;

• “authorised contract” has the meaning given in section 261M(1) of FSMA M3;

• “authorised contractual scheme” has the meaning given in section 237(3) of FSMA M4;

• “depositary” has the meaning given in section 237(2) of FSMA;

• “the FCA” means the Financial Conduct Authority;

• “FSMA” means the Financial Services and Markets Act 2000 M5;

• “operator” has the meaning given in section 237(2) of FSMA M6;

• “participant” has the meaning given in section 235(2) of FSMA;

• “partnership scheme” has the meaning given in section 235A(5) of FSMA M7;

• “stand-alone co-ownership scheme” has the meaning given in section 237(8) of FSMA M8;

• “sub-scheme” has the meaning given in section 237(7) of FSMA;

• “umbrella co-ownership scheme” has the meaning given in section 237(5) of FSMA; and

• “units” has the meaning given in section 237(2) of FSMA.