PART 4Transitional provisions

Section 246ZD16.

(1)

Section 246ZD (power to assign certain causes of action) does not apply in relation to any relevant proceedings commenced before the commencement date.

(2)

“Relevant proceedings” means—

(a)

any proceedings of a kind specified in regulation 14(2)(a) to (e); or

(b)

the winding up of a relevant scheme (within the meaning given in regulation 17(1)(a) of the Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013).