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Full Definition of Terms
“United Kingdom persons having professional experience in relation to investments” means:
- (a) a person authorised by the U.K. Financial Services Authority;
- (b) a person who is exempt under the U.K. Financial Services and Markets Act 2000 where the details on this website relate to an activity in relation to which he is exempt;
- (c) any other person whose ordinary activities involve him in dealing in investments for the purpose of a business carried on by him;
- (d) a government, local authority (whether in the U.K. or elsewhere) or an international organization;
- (e) person(“A”) who is a director, officer or employee of person (“B”) falling within any of sub-paragraphs (a) to (d) where A accesses this website in that capacity and where A’s responsibilities when acting in that capacity involve B in dealing in investments.
“High net worth companies, unincorporated associations, etc.” means:
- (a) any body corporate which has, or which is member of the same group as an undertaking which has, called-up share capital or net assets of not less than:
- (i) if the body corporate has more than 20 members or is subsidiary undertaking of an undertaking which has more than 20 members, £500,000;
- (ii) otherwise, £5 million;
- (b) any unincorporated association or partnership which has net assets of not less than £5 million;
- (c) the trustee of a trust where the aggregate value of the cash and investments which form part of the trust’s assets (before deducting the amount of its liabilities):
- (i) is £10 million or more; or
- (ii) has been £10 million or more at any time during the last year;
- (d) any person (“A”) whilst acting in the capacity of director, officer of employee of a person (“B”) falling within any of sub-paragraphs (a) to (c) where A’s responsibilities when acting in that capacity, involve him in B’s engaging in investment activity.