(1) Acting as -
(a) the depositary of an AIF falling within paragraph (2),
(b) the trustee of an authorised unit trust scheme which is an AIF that does not fall within paragraph (2), or
(c) the depositary of an open-ended investment company or authorised contractual scheme which is an AIF that does not fall within paragraph (2),
is a specified kind of activity.
(2) An AIF falls within this paragraph if it is -
(a) an AIF managed by a full-scope UK AIFM;
(b) [deleted]
(3) In paragraph (1)(a) "depositary" means -
(a) a person appointed as a depositary by the AIFM in compliance with a requirement imposed by rule 3.11.10, 3.11.12 or 3.11.33 of the Investment Funds sourcebook; or
(b) an Article 36 custodian as defined in regulation 57(5)(a) of the Alternative Investment Fund Managers Regulations 2013.
(4) In paragraph (1)(b) "authorised unit trust scheme" and "trustee" have the meanings given by section 237 of the Act.
(5) In paragraph (1)(c) "authorised contractual scheme" and "depositary"
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