The Financial Services (Recognised Collective Investment Schemes from Other Member States) (Luxembourg) Order 1988
This Order directs that schemes constituted in the Grand Duchy of Luxembourg which meet the requirements specified in article 3 of the Order are recognised schemes for the purposes of the Financial Services Act 1986. Under section 86 of the Act, as it applies by virtue of paragraph 10 of Schedule 15, such schemes are required to give written notice to the Securities and Investments Board two months before inviting persons in the United Kingdom to become participants. The notice must specify the manner in which the invitation is to be made and a scheme will be not a recognised scheme if, within the two month period, the Securities and Investments Board gives notice that the manner in which the invitation is to be made does not comply with the law in force in the United Kingdom.