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designated investment

      1. (1) 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):106
        1. (a) life policy (subset of article 75 (Contracts of insurance));
        1. (b) share (article 76);
        1. (c) debenture (article 77);
        1. (ca) alternative debenture (article 77A);
        1. (d) government and public security (article 78);
        1. (e) warrant (article 79);
        1. (f) certificate representing certain securities (article 80);
        1. (g) unit (article 81);
        1. (h) stakeholder pension scheme (article 82(1))
        1. (ha) personal pension scheme (article 82(2));
        1. (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);
          1. (ii) commodity option and option on a commodity future;
        1. (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);
          1. (ii) commodity future;
          1. (iii) rolling spot forex contract;
        1. (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);
          1. (ii) spread bet;
          1. (iii) rolling spot forex contract;
        1. (l) rights to or interests in investments in (a) to (k) (article 89);106
      1. (2) a P2P agreement; and106
      1. (3) a long-term care insurance contract which is a pure protection contract.106