FCA

27.03.13

Land banking company was operating collective investment scheme

In the FsA v Asset Land Investment Inc and others [2013] EWHC 178 the question for the High Court (Andrew smith J) was whether the land banking scheme operated by the defendant(s) was a “collective investment scheme” within the definition of section 235 FisMA 2000. Investors were sold plots of land at a number of…