Section 6(1)

In regulation 5 “excluded securities” means— units issued by a collective investment undertaking other than the closed-end type; non-equity securities issued by— the government of any country or territory, a local or regional authority of any country or territory, a public international body of which the United Kingdom or any other State is a member, or the European Central Bank or the central bank of any State; shares in the capital of the central bank of any State; securities unconditionally and irrevocably guaranteed by the government or a local or regional authority of any country or territory; securities issued by a qualifying body; non-fungible shares of capital— the main purpose of which is to provide the holder with a right to occupy any immovable property, and which cannot be sold without that right being given up; money market instruments, as defined in Article 2(1)(25A) of the markets in financial instruments regulation, that have a maturity of less than 12 months.

← 6 · All articles · 2 →

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