Meaning of exchange traded fund
This section has no associated Explanatory Memorandum
5. In these Regulations an “exchange traded fund” means a collective investment scheme which—
(a)is an open-ended investment company, units in which are admitted to trading on—
(i)a regulated market, or
(ii)a multilateral trading facility, and
(b)is authorised as a UCITS within the meaning of and pursuant to Directive 2009/65/EC of the European Parliament and of the Council on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investments in transferable securities (UCITS), as amended from time to time(1).
(1)
OJ No L 302, 17.11.2009, p 32.