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designated investment

a security or a contractually-based investment (other than a funeral plan contract and a right to or interest in a funeral plan contract), that is, any of the following investments, specified in Part III of the Regulated Activities Order (Specified Investments), and a long-term care insurance contract which is a pure protection contract:18

  1. (a) life policy (subset of article 75 (Contracts of insurance));
  2. (b) share (article 76);
  3. (c) debenture (article 77);
  4. (d) government and public security (article 78);
  5. (e) warrant (article 79);
  6. (f) certificate representing certain securities (article 80);
  7. (g) unit (article 81);
  8. (h) stakeholder pension scheme (article 82);
  9. (i) option (article 83); for the purposes of the permission regime, this is sub-divided into:
    1. (i) option (excluding a commodity option and an option on a commodity future);
    2. (ii) commodity option and option on a commodity future;
  10. (j) future (article 84); for the purposes of the permission regime, this is sub-divided into:
    1. (i) future (excluding a commodity future and a rolling spot forex contract);
    2. (ii) commodity future;
    3. (iii) rolling spot forex contract;
  11. (k) contract for differences (article 85); for the purposes of the permission regime, this is sub-divided into:
    1. (i) contract for differences (excluding a spread bet and a rolling spot forex contract);
    2. (ii) spread bet;
    3. (iii) rolling spot forex contract;
  12. (l) rights to or interests in investments in (a) to (k) (article 89) but not including rights to or interests in rights under a long-term care insurance contract which is a pure protection contract.3218