collective investment schemehas the meaning given by section 75 of the Financial Services Act 1986;
larger denomination sharesmeans shares to which are attached rights so specified that are expressed in the larger of two denominations.”
open-ended investment companymeans, subject to sub-paragraph (7B) below, an open-ended investment company within the meaning given by section 75(8) of the Financial Services Act 1986 which is incorporated in the United Kingdom;
smaller denomination sharesmeans shares to which are attached rights specified in the open-ended investment company’s instrument of incorporation that are expressed in the smaller of two denominations, and “larger denomination shares” means shares to which are attached rights so specified that are expressed in the larger of two denominations.”
umbrella companymeans a company— a which falls within the definition of “open-ended investment company” in section 75(8) of the Financial Services Act 1986, b which is incorporated in the United Kingdom, c whose instrument of incorporation provides for arrangements for such pooling as is mentioned in section 75(3)(a) of that Act in relation to separate parts of the scheme property of the company, and d the owners of shares in which are entitled to exchange rights in one part for rights in another;