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permitted scheme interests

      1. 59(a) in respect of a firm's business with institutional linked policyholders only, any of the following:
        1. (i) a qualified investor scheme or its EEA equivalent;
        1. (ii) any unregulated collective investment scheme that invests only in permitted links and publishes its prices regularly;
        1. (iii) any of the interests set out in (b)(i) to (b)(iv);
      1. (b) in respect of a firm's business with linked policyholders other than those described in (a), any of the following:
        1. (i) an authorised fund;
        1. (ii) a recognised scheme;
        1. (iii) a 63scheme falling within the UCITS Directive;63
        1. (iv) a non-UCITS retail scheme;
        1. (v) a qualified investor scheme or its EEA equivalent or any unregulated collective investment scheme that invests only in permitted links and publishes its prices regularly, provided that no more than 20% of the gross assets of the linked fund are so invested.