designated investment
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), and a long-term care insurance contract which is a pure protection contract:2118
- (a) life policy (subset of article 75 (Contracts of insurance));
- (b) share (article 76);
- (c) debenture (article 77);
- (d) government and public security (article 78);
- (e) warrant (article 79);
- (f) certificate representing certain securities (article 80);
- (g) unit (article 81);
- (h) stakeholder pension scheme (article 82(1)31);
- (ha) personal pension scheme (article 82(2));31
- (i) option (article 83); for the purposes of the permission regime, this is sub-divided into:
- (i) option (excluding a commodity option and an option on a commodity future);
- (ii) commodity option and option on a commodity future;
- (j) future (article 84); for the purposes of the permission regime, this is sub-divided into:
- (i) future (excluding a commodity future and a rolling spot forex contract);
- (ii) commodity future;
- (iii) rolling spot forex contract;
- (k) contract for differences (article 85); for the purposes of the permission regime, this is sub-divided into:
- (i) contract for differences (excluding a spread bet and a rolling spot forex contract);
- (ii) spread bet;
- (iii) rolling spot forex contract;
- (l) rights to or interests in investments in (a) to (k) (article 89) but not including rights to or interests in rights under a long-term care insurance contract which is a pure protection contract.322118