Related Commentary  

74(1)  The equivalence condition is met if the fund meets condition A, B or C throughout the period of account.

74(2)  Condition A is that the fund is recognised by the Financial Services Authority within the meaning of section 264 or 272 of FISMA 2000.

74(3)  Condition B is that the fund is a UCITS fund.

74(4)  Condition C is that the fund–

(a)is constituted in another EEA state and authorised by the competent authority in that state to market to retail or professional investors, and

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