master UCITS
75(in accordance with article 58(3) of the UCITS Directive) a UCITS scheme, an EEA UCITS scheme or a sub-fund of such a scheme where:
- (a) at least one of its Unitholders is a feeder UCITS;
- (b) it is not itself a feeder UCITS; and
- (c) it does not hold units of a feeder UCITS.