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group savings plan

    a savings plan:

      1. (a) of which the plan manager is the authorised fund manager, or in the same group as the authorised fund manager, of the authorised fund by reference to units in which the plan register is being, or is proposed to be, maintained;
      1. (b) under which investments are periodically acquired and held by a nominee for the absolute benefit of the respective subscribers to the savings plan; and
      1. (c) under which all the investments are units in one or more authorised funds managed by (or, in the case of an ICVC, whose ACD is) the plan manager, or a body corporate in the same group as the plan manager.4