The Financial Services Act 1986 (Restriction of Scope of Act and Meaning of Collective Investment Scheme) Order 1997
This Order amends references to collective investment scheme in the Financial Services Act 1986 (“FSA”). Paragraph (2) of article 2 of the Order excludes from references to collective investment schemes in Schedule 1 to the FSA any arrangements that meet the conditions set out in the inserted paragraph 37 of that Schedule. Paragraph (1) of that article amends section 75 of the FSA so that such arrangements are excluded from the definition contained in that section of what constitutes a collective investment scheme.