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broker fund

48(in relation to a fund for which the firm is or will be a broker fund adviser):

  1. (a) an actual or notional fund of a long-term insurer or overseas long-term insurer, which contains or will contain contributions made or to be made by a client or clients of a firm in connection with a life policy or policies;
  2. (b) a fund of a collective investment scheme, which contains or will contain cash contributions made or to be made by a client or clients of a firm in connection with the purchase of units in the scheme.