PERSONAL EQUITY PLAN Definition

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PERSONAL EQUITY PLAN (PEP) was an investment plan in the U.K. that used to allow people over the age of 18 to invest in shares of U.K. companies. The plan encouraged investment by individuals. Discontinued in 1999, it was replaced by Individual Savings Accounts (ISA). It was done through an approved plan, qualifying unit trust, or investment trust. Investors received both income and capital gains free of tax.

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MANAGEMENT BY EXCEPTION (MBE) is a management method by which only exceptional events are reported or acted upon. In this way management can focus only on those results or occurrences that deviate in some way from that what was expected.

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