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These, we submit, are much better, distinctions; more conducive to a frustration-free working day, whether it is primarily concerned with semolina or credit risk management.<ref>I am indebted to [http://barnsleyfc.org.uk/threads/sago-semalina-tapioca-and-rice-pudding.16005/ an enlightening discussion on the difference between semolina, sago and rice pudding dating from 2006] I happened upon while browsing the Barnsley Football Club’s fan forum recently.</ref> They promise helpful, practical advice on how to go about one’s day, should you come across something that might or might not be a legal fiction. ''Do not make sago-pudding out of a [[SICAV]],'' for example. ''Do not try to close-out a [[Pantomime dromedary|dromedary]]''. | These, we submit, are much better, distinctions; more conducive to a frustration-free working day, whether it is primarily concerned with semolina or credit risk management.<ref>I am indebted to [http://barnsleyfc.org.uk/threads/sago-semalina-tapioca-and-rice-pudding.16005/ an enlightening discussion on the difference between semolina, sago and rice pudding dating from 2006] I happened upon while browsing the Barnsley Football Club’s fan forum recently.</ref> They promise helpful, practical advice on how to go about one’s day, should you come across something that might or might not be a legal fiction. ''Do not make sago-pudding out of a [[SICAV]],'' for example. ''Do not try to close-out a [[Pantomime dromedary|dromedary]]''. | ||
But we can imagine someone saying “I know very well zebras are not companies. I do not need a legal opinion for that. It is the very nearness of these things to being companies, | But we can imagine someone saying “I know very well zebras are not companies. I do not need a legal opinion for that. It is the very ''nearness'' of these company-like things to being companies, whereas in law<ref>Well, in [[Metaphor|metaphorical]] fact, at any rate, “[[for the purposes of]] this opinion”.</ref> they are not, that makes this sort of definition necessary and helpful.” | ||
Just so. But still, | Just so. But still, there is “helpful” and there is “torturing the sinews of logic for no good reason”. Let us draw nearer and have a look. | ||
To do that we must leave pure, [[tedious]], black-letter law and get our hands dirty with ''set theory''. Buried in that dense list of ''almost-but-for-present-purposes-not-quite'' companies, is another [[negative]]: “[[alternative investment fund]]s subject to the AIFM law ''other than UCI''”. | |||
The author has already told us that UCIs — even those that are, in fact, companies — for the purpose of this opinion are not “companies”. But around these non-companies, there is a penumbra of similar, but different entities: things that are ''like'' UCIs, but are ''not'' UCIs. These fringe entities — even though they, too, might actually ''be'' companies, are not “companies” either. We are left with a logical structure which stretches the Euclidean idea of [[Space-tedium|space tedium]] so profoundly I have struggled to render it in plain English: | |||
{{Quote|''Investment funds which are not non-companies by dint of being investment funds, and might otherwise be companies, do not count as companies after all, and therefore should be treated as non-companies anyway.''}} | {{Quote|''Investment funds which are not non-companies by dint of being investment funds, and might otherwise be companies, do not count as companies after all, and therefore should be treated as non-companies anyway.''}} |