Local Authorities’ Mutual Investment Trust Act 1968
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Change 1
2 Interpretation.
In this Act— “the Act of 1961” means the Trustee Investments Act 1961; “the Company” means the Local Authorities’ Mutual Investment Trust; “participation certificate” means any document conferring upon the holder the right to participate in (or constituting evidence of the right of the holder to participate in) the profits or income arising from the acquisition, holding, management or disposal of a particular investment specified or described in the document; “recognised investment exchange” has the meaning given by section 285(1) of the Financial Services and Markets Act 2000; “the scheme” means the scheme relating to the powers of investment of the Company submitted to the Treasury pursuant to section 11 of the Act of 1961 by the associations of local authorities mentioned in the Schedule to this Act and approved by the Treasury as from time to time modified or supplemented; “securities” has the meaning assigned thereto by paragraph 4 of Part IV of Schedule 1 to the Act of 1961; “unit trust scheme” has the meaning assigned thereto by section 237(1) of the Financial Services and Markets Act 2000; “the wider-range trust fund” means the property for the time being held upon the trusts of the deed made 9th August 1961 by the Company referred to in the scheme as the wider-range trust deed as set out in Schedule 2 to the scheme.
2 Interpretation.
In this Act— “the Act of 1961” means the Trustee Investments Act 1961; “the Company” means the Local Authorities’ Mutual Investment Trust; “participation certificate” means any document conferring upon the holder the right to participate in (or constituting evidence of the right of the holder to participate in) the profits or income arising from the acquisition, holding, management or disposal of a particular investment specified or described in the document; “recognised investment exchange” has the meaning given by section 285(1) of the Financial Services and Markets Act 2000; “the scheme” means the scheme relating to the powers of investment of the Company submitted to the Treasury pursuant to section 11 of the Act of 1961 by the associations of local authorities mentioned in the Schedule to this Act and approved by the Treasury as from time to time modified or supplemented; “securities” has the meaning assigned thereto by paragraph 4 of Part IV of Schedule 1 to the Act of 1961; “unit trust scheme” has the meaning assigned thereto by section 237(1) of the Financial Services and Markets Act 2000; “the wider-range trust fund” means the property for the time being held upon the trusts of the deed made 9th August 1961 by the Company referred to in the scheme as the wider-range trust deed as set out in Schedule 2 to the scheme.
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