The Treasury may by regulations make provision about unauthorised co-ownership AIFs that corresponds or is similar to, or applies with modifications, any of sections 261M to 261O and section 261P(1) and (2) (rights and liabilities of participants in authorised co-ownership schemes).
Regulations under subsection (1) may make provision about unauthorised co-ownership AIFs generally, or about unauthorised co-ownership AIFs of a description specified in the regulations.
In this section "unauthorised co-ownership AIF" means a co-ownership scheme that—
is an AIF, and
is not authorised for the purposes of this Act by an authorisation order in force under section 261D(1).