bonded investment
- (a) which, except in the case of a unit, is one of the following:
- (i) a readily realisable security held for a customer, whether or not held under a discretionary arrangement; or
- (ii) a designated investment in bearer form; or
- (iii) a designated investment held by a nominee company under the control of the firm or a person whom the firm controls; or
- (iv) a designated investment to which the title is recorded in electronic form;
4a designated investment not held by a trustee when acting as a trustee: