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the investment, specified in article 81 of the Regulated Activities Order (Units in a collective investment scheme) and defined in section 237(2) of the Act (Other definitions)), which is the right or interest (however described) of the participants in a collective investment scheme; this includes:

(a) (in relation to an AUT) a unit representing the rights or interests of the Unitholders in the AUT;
(b) (in relation to an ICVC) a share in the ICVC.2

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