PART 3Amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
Schedule 8 (persons excluded from regulated activity of managing an AIF)161
1
Schedule 8296 (persons excluded from regulated activity of managing an AIF) is amended as follows.
2
In paragraph 1, after “the alternative investment fund managers directive” insert “, and not referred to in paragraph 1B,”.
3
After paragraph 1 insert—
1A
For the purposes of paragraph 1, in Article 4(1)(o) of the alternative investment fund managers directive (definition of “holding company”) the reference to the Union is to be read as a reference to the United Kingdom.
1B
In this Schedule—
“parent undertaking” has the meaning given by section 1162 of the Companies Act 2006297 (read with Schedule 7 to that Act);
“subsidiary” has the meaning given to “subsidiary undertaking” by that section (read with that Schedule)
4
For paragraph 4 substitute—
4
The trustees and managers of an occupational pension scheme within the meaning of section 1(1) of the Pension Schemes Act 1993298.
5
In paragraph 5—
a
omit “The European Central Bank,”;
b
for “, any other” substitute “or any other”;
c
omit “or a European Development Finance Institution,”.