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Collective Investment Undertaking(s) ('CIUs')

Collective investment undertakings ('CIUs') are undertakings:

(a) The sole object of which is the collective investment of capital raised from the public in financial instruments or other assets and which operates on the basis of risk-spreading; and
(b) The holdings of which are re-purchased or redeemed, directly or indirectly, out of those undertakings' assets.

[This definition has been amended as CIUs have been moved to Volume 7 in April 2012].

Amended: April 2012