461.A single property scheme is, broadly, a collective investment scheme which relates to a single building or a group of buildings managed as a single enterprise.  This section gives the Treasury power to make regulations exempting the promotion of participation in single property schemes to the general public from the prohibition in section 238.  If the Treasury make regulations under this section, the Authority may then make rules imposing duties on the operator and trustee or depositary of schemes exempted under the regulations.
Commentary on Sections Part Xvii: Collective Investment Schemes Chapter II: Restrictions on promotion Section 239: Single property schemes