The Securities Act defines a Collective Investment Scheme as:
- a unit trust;
- an investment company;
- investment contracts, investment programmes or any other arrangements with respect to property of any description, including money, the purpose or effect of which is to enable persons taking part in the arrangements (whether by becoming owners of the property or any part of it or otherwise) to participate in or receive profits or income arising from the acquisition, holding, management or disposal of the property or sums paid out of such profits or income; and
- any scheme that the Commission may deem to be a collective investment scheme for the purpose of the Securities Act.