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The investment,
specified in article 81 of the Regulated Activities Order (Units in
a collective investment scheme) and defined in section 237(2) of the
Act which is the right or interest (however described) of the
participants in a collective investment scheme; this includes:
(a)(in relation to an
AUT) a unit representing the rights or interests of the unitholders
in the AUT;
(b)(in relation to an
ICVC) a share in the ICVC
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