(1) In this Part an "investment company" means a public company that - (a) has given notice (which has not been revoked) to the registrar of its intention to carry on business as an investment company, and (b) since the date of that notice has complied with the following requirement.
(2) The requirement is -
(a) that the business of the company consists of investing its funds in shares, land or other assets, with the aim of spreading investment risk and giving members of the company the benefit of the results of the management of its funds;
(b) [deleted]
(c) [deleted]
(d) [deleted]
(3) [deleted]
(4) Notice to the registrar under this section may be revoked at any time by the company on giving notice to the registrar that it no longer wishes to be an investment company within the meaning of this section.
(5) On giving such a notice, the company ceases to be such a company.