The Financial Services Act 1986 (Extension of Scope of Act and Meaning of Collective Investment Scheme) Order 1988
This Order extends the scope of the Financial Services Act 1986 in certain respects. Article 2 of the Order makes provision as to options on palladium or platinum. Article 3 makes provision as to the application of paragraph 19 of Schedule 1 where the customer is an individual or the investment concerned is a unit in a collective investment scheme, a long term insurance policy or rights to or interests in an investment of either of those kinds. Article 4 amends the references in the Act to a collective investment scheme in connection with schemes where the contributions of participants are deposits for the purposes of the Banking Act 1987 or certain sums akin to deposits.