Part 6: Miscellaneous Amendments to FSMA 2000 Section 64: Unauthorised co-ownership AIFs
This section amends FSMA 2000 to establish a delegated power for HM Treasury and to clarify that section 261E of FSMA 2000 is relevant for the purposes of authorised contractual schemes with regards to section 261D(1)(a) of FSMA 2000.
	Subsection (1) is self-explanatory.
	Subsection (2)(a) (inserting section 261E(A1) of FSMA 2000) clarifies that section 261E is relevant for the purposes of section 261D(1)(a) of FSMA 2000.
	Subsection (2)(b) is self-explanatory.
	Subsection (3) inserts the new Chapter 3B – Unauthorised co-ownership AIFs, along with the new section 261Z6 of FSMA 2000.
	Subsection (3) (inserting section 261Z6(1) of FSMA 2000) delegates a power to HM Treasury to apply the effect, as relevant, of sections 261M to 261O and section 261P(1) and (2) of FSMA 2000, to unauthorised co-ownership AIFs.
	Subsection (3) (inserting section 261Z6(2) of FSMA 2000) makes clear that the delegated power allows for provision about unauthorised contractual AIFs in general, or those of a specified description.
	Subsection (3) (inserting section 261Z6(3) of FSMA 2000) sets out the definition of an unauthorised co-ownership AIF, for the purposes of this section.