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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.


    (in relation to investments of an authorised fund) intended that the holders should participate in or receive:

      1. (a) profits or income arising from the acquisition, holding, management or disposal of investments of the relevant description; or
      1. (b) sums paid out of profits or income in (a); or
      1. (c) other benefits where expressly permitted by a provision in 50COLL.50 3