The Financial Services and Markets Act 2000 (Collective Investment Schemes) (Designated Countries and Territories) Order 2003
This Order designates territories, and specifies classes of collective investment scheme, for the purposes of section 270 of the Financial Services and Markets Act 2000 (“the Act”). An operator of a collective investment scheme which falls within a class specified by this Order and which is managed in, and authorised under the law of, a territory outside the United Kingdom which is designated by this Order, may give notice to the Financial Services Authority that he wishes the scheme to be recognised. If the Financial Services Authority gives its approval to the scheme being recognised, the scheme is a “recognised scheme” for the purposes of Part XVII of the Act.