272 Individually recognised overseas schemes

Individually recognised overseas schemes

272  Individually recognised overseas schemes

(1)     The [FCA] may, on the application of the operator of a collective investment scheme which—

(a)     is managed in a country or territory outside the United Kingdom, [and]

(b)     . . .

(c)     . . .

[(ca)     does not have the benefit of section 271A, and]

(d)     appears to the [FCA] to satisfy the requirements set out in the following provisions of this section [subsections (2) to (15)],

make an order declaring the scheme to be a recognised scheme.

[(1A)     For the purposes of subsection (1)(ca), a collective investment scheme has the benefit of section 271A if—

(a)     it is authorised under the law of a country or territory which is for the time being approved by regulations under section 271A, and

(b)     it falls within a

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