The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019

Financial Services (Distance Marketing) Regulations 2004

This section has no associated Explanatory Memorandum

56.  In the Financial Services (Distance Marketing) Regulations 2004(1), in regulation 4—

(a)in paragraph (5)—

(i)for the words from “recognised scheme” to “EEA States)” substitute “relevant recognised scheme”;

(ii)after “capacity” insert “, by virtue of regulation 72(2) of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulation 2019 (“the 2019 Regulations”) (temporary authorisation of operator, trustee or depositary of recognised scheme)”;

(b)for paragraph (6) substitute—

“(6) In paragraph (5)—

“operator”, “trustee” and “depositary” have the same meanings as in Part 17 of the 2000 Act (see section 237 of that Act);

“relevant recognised scheme” means a stand-alone scheme or sub-fund (within the meaning of Part 6 of the 2019 Regulations) that is a recognised scheme by virtue of regulation 62 of the 2019 Regulations (temporary recognition for EEA UCITS or sub-fund of EEA UCITS).”.