(1) The Financial Services and Markets Act 2000 (Stakeholder Products) Regulations 2004 [S.I. 2004/2738, to which there are amendments not relevant to these Regulations.] is amended as follows.
(2) In regulation 2 (interpretation), in paragraph (1) -
(a) for the definition of "manager" substitute -
""manager" means -
(a) the operator of a relevant collective investment scheme which is an authorised contractual scheme;
(b) the manager of any other relevant collective investment scheme; or
(c) the insurer of a relevant linked long-term contract;";
(b) after the definition of "manager" insert -
""operator", in relation to an authorised contractual scheme, has the meaning given in section 237(2) of the 2000 Act;"; and
(c) in the definition of "relevant collective investment scheme", after "authorised unit trust scheme," insert "an authorised contractual scheme,".
(3) In regulation 9 (permitted reductions in investor’s rights and investment property), in paragraph (9)(e), after paragraph
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