Section 90ZA(2)

In this section, a reference to a sub-fund of a collective investment scheme is a reference to a part of the property of the collective investment scheme which forms a separate pool where— the collective investment scheme provides arrangements for separate pooling of the contributions of the participants and the profits and income out of which payments are made to them; and the participants are entitled to exchange rights in one pool for rights in another.

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