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acting as trustee or depositary of an AIF

    96the regulated activity, specified in article 51ZD of the Regulated Activities Order, which is, in summary, acting as:

      1. (a) a depositary of an AIF falling within article 51ZD(2) of the Regulated Activities Order;
      1. (b) the trustee of an authorised unit trust which is an AIF that does not fall within article 51ZD(2) of the Regulated Activities Order;
      1. (c) the depositary of an open-ended investment company or of an authorised contractual scheme which is an AIF that does not fall within article 51ZD(2) of the Regulated Activities Order.