PART 3Amendments to subordinate legislation
The Stamp Duty and Stamp Duty Reserve Tax (Definition of Unit Trust Scheme and Open-ended Investment Company) Regulations 2001I126
1
The Stamp Duty and Stamp Duty Reserve Tax (Definition of Unit Trust Scheme and Open-ended Investment Company) Regulations 2001111 are amended as follows.
2
In regulation 2(1)—
a
in the definition of “qualifying EEA investment company”, in paragraph (b) after “public” insert “in the UK or”;
b
in the definition of “qualifying EEA open-ended investment company”, in paragraph (c) after “public” insert “in the UK or”;
c
omit the definition of “recognised scheme”;
d
insert at the appropriate place—
“relevant authority” means—
- a
the government of the United Kingdom, of Northern Ireland, or of any country outside the United Kingdom,
- b
a local authority in the United Kingdom or elsewhere,
- c
any international organisation the members of which include the United Kingdom or a member State;
e
for the definition of “UCITS” substitute—
“UCITS” means—
- a
a UCITS within the meaning given by section 236A of the Financial Services and Markets Act 2000, or
- b
an undertaking established in Gibraltar which is a UCITS under the law of Gibraltar which implemented Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities112,
3
In regulation 2(2), in Condition 5—
a
in paragraph (a) for “recognised scheme” substitute “UCITS and is a recognised scheme for the purposes of Part 17 of the Financial Services and Markets Act 2000113”;
b
for paragraph (c) substitute—
c
units in a UCITS formed under the laws of a member State which has been authorised by the competent authorities of that member State and is a recognised scheme for the purposes of Part 17 of the Financial Services and Markets Act 2000,
c
for paragraph (g) substitute—
g
loan stock, bonds and other instruments—
i
creating or acknowledging indebtedness, and
ii
issued by or on behalf of a relevant authority.