(1) Section 237 (other definitions for Part 17) is amended as follows.

(2) In subsection (2) -

(a) for the definition of "management company" substitute -

""management company" means an undertaking, as defined in section 1161 of the Companies Act 2006 [2006 c. 46.], whose regular business is the management of UK UCITS;";

(b) in the definition of "the operator" [The definition of "the operator" was inserted by S.I. 2013/1388.] -

(i) at the end of paragraph (ab), insert "and";

(ii) omit the "and" at the end of paragraph (b);

(iii) omit paragraph (c).

(3) In subsection (3) -

(a) after the definition of "an authorised open-ended investment company" [A previous definition of "EEA UCITS" was inserted by S.I. 2013/1388 and omitted by S.I. 2018/698.] insert -

""the Collective Investment Schemes sourcebook" means the Collective Investment Schemes sourcebook made under this Act by the FCA, as it has effect on IP completion day;

"EEA UCITS" means a UCITS which is authorised pursuant to Article 5 of the UCITS directive in an EEA State;";