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16. In regulation 8A (qualifying investments for an innovative finance component)—
(a)in paragraph (2) after sub-paragraph (ca) insert—
“(cb)investments that meet the condition in paragraph (5) and—
(i)are qualifying investments under regulation 7(2)(f), or
(ii)would be qualifying investments under regulation 7(2)(g), but for the condition in paragraph (6) being met in respect of them;”;
(b)after paragraph (4) insert—
“(5) The condition in this paragraph is that the investments are subject to a notice period that would prevent the condition in regulation 4(7) from being met in respect of them if they were held in a stocks and shares account.
(6) The condition in this paragraph is that the instrument constituting the scheme provides for it to operate limited redemption arrangements in accordance with Rule 6.2.16(7) of COLL(1).”.
“COLL” is defined in regulation 2(1)(b) of the Principal Regulations as the Collective Investment Schemes Sourcebook made by the Financial Conduct Authority under the Financial Services and Markets Act 2000. The Sourcebook can be found online at https://www.handbook.fca.org.uk/handbook/COLL and is available for inspection at His Majesty’s Revenue and Customs, 100 Parliament Street, London, SW1A 2BQ.