acting as trustee or depositary of an AIF

96the regulated activity, specified in article 51ZD of the Regulated Activities Order, which is, in summary, acting as:

1. (a) a depositary of an AIF falling within article 51ZD(2) of the Regulated Activities Order;
2. (b) the trustee of an authorised unit trust which is an AIF that does not fall within article 51ZD(2) of the Regulated Activities Order;
3. (c) the depositary of an open-ended investment company or of an authorised contractual scheme which is an AIF that does not fall within article 51ZD(2) of the Regulated Activities Order.