The Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2007

• Citation: S.I. 2007/800
• Sections: 2

Section 1 Citation and commencement

This Order may be cited as the Financial Services and Markets Act 2000 (Collective Investment Schemes) (Amendment) Order 2007 and comes into force the day on which section 212 of, and Schedule 10 to, the Housing Act 2004 come into force.

Section 2 Amendment of the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001

(1) The Schedule to the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001 (arrangements not amounting to a collective investment scheme) is amended as follows.

(2) For paragraph 7 (certain funds relating to leasehold property), substitute—

Certain funds relating to leasehold property

(7) Arrangements do not amount to a collective investment scheme if the rights or interests of the participants are rights or interests—

(a) in a fund which is a trust fund within the meaning of section 42(1) of the Landlord and Tenant Act 1987 or which would be such a trust fund if the landlord were not an exempt landlord within the meaning of section 58(1) of that Act; or

(b) in money held in a designated account by the scheme administrator under a tenancy deposit scheme within the meaning of section 212(2) of the Housing Act 2004.