(1) Regulations 23, 24, 24A and 24B (except Regulation 24(2) to the extent that it relates to paragraphs 30 to 49 and 54 to 62 of Schedule 5) shall, with all necessary modifications, apply to investment companies that have not designated a management company authorised pursuant to these Regulations.
(2) For the purpose of paragraph (1), references in regulations 23, 24, 24A and 24B (including Schedule 5) to "management company" mean "investment company".