Section 247(5)

If— the Treasury may by order make such modifications of those powers as they consider appropriate. a modification is made of the statutory provisions in force in the United Kingdom relating to companies, the modification relates to the rights and duties of persons who hold the beneficial title to any shares in a company without also holding the legal title, and it appears to the Treasury that, for the purpose of assimilating the law relating to authorised unit trust schemes to the law relating to companies as so modified, it is expedient to modify the rule-making powers conferred on the FCA by this section,

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Source: legislation.gov.uk · retrieved 2026-09-04