Section 188: Restriction on activities of managers.

(1) The manager of an authorised scheme shall not engage in any activities other than those mentioned in subsection (2) of this section.
(2) The activities referred to in subsection (1) of this section are:
(a) acting as manager of:
(i) a scheme;
(ii) an open-ended investment company or any body corporate whose business consists of investing its funds with the aim of spreading investment risk and giving its members the benefit of the expert management of its funds by or on behalf of that body; or
(iii) any other collective investment scheme under which the contributions of the participants and the profits or income out of which payments are to be made to them are pooled; and
(b) activities for the purposes of or in connection with those activities mentioned in paragraph (a) of this subsection.