‘The critical question in deciding whether property was “managed as a whole” within section 235(3)(b) of the Financial Services and Markets Act 2000 was whether a characteristic feature of the arrangements under the scheme was that the property to which those arrangements related was managed as a whole. Whether that condition was satisfied required an overall assessment and evaluation of the relevant facts.’
WLR Daily, 25th March 2015
Source: www.iclr.co.uk
