7(1) This regulation specifies the kind of investments (“qualifying investments for a stocks and shares component”) which may be purchased, made or held under a stocks and shares component, and in this regulation and regulations 31 and 34, “shares” without more includes stock.
7(2) Qualifying investments for a stocks and shares component to which paragraph (1) refers are–
(a)shares, not being shares in an investment trust–
(i)issued by a company wherever incorporated, and
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