HC Deb 01 March 1988 vol 128 cc515-6W
Mr. Tom Arnold

To ask the Chancellor of the Duchy of Lancaster with which self-regulatory organisation theatrical producers are supposed to register; and if he will make a statement.

Mr. Maude

Theatrical producers will only need to be authorised if they are carrying on investment business as defined in the Act. Schemes for pooled investment in theatrical productions fall within the definition of collective investment schemes, and authorisation is required by persons operating or establishing them or winding them up. Any person may apply to any of the recognised self-regulating organisations whose scope rules cover the relevant investment activities or for direct authorisation by the Securities and Investments Board. If the main investment business is the management of investors' funds they may well find that the Investment Management Regulatory Organisation is the most appropriate organisation.