COLL S1.10 Other Arrangements Relating to Use or Enjoyment of Property
An arrangement is not a scheme if—
(a) the predominant purpose of the arrangement is to enable the participants in the arrangement to share in the use or enjoyment of property or to make its use or enjoyment available free of charge to others; and
(b) the property to which the arrangement relates—
(i) does not consist of the currency of any jurisdiction; and
(ii) does not consist of or include—
(A) a specified product; or
(A) a product that would be a specified product apart from any exclusion in
Financial Services Regulations, schedule 3 (Regulated Activities and Permitted Activities), part 3 (Specified Products).
Note Property, jurisdiction and specified product are defined in the glossary.
|Derived from QFCRA RM/2010-05 (as from 1st January 2011)|