European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 [S.I. No. 352 of 2011]

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Version status: In force | Document consolidation status: Updated to reflect all known changes

Published date: 29 June 2011

Consolidation Status: Updated to reflect all known changes

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	Introductory Text
	Part 1 Preliminary (regs. 1-3)
In force	Regulation 1 Citation
In force	Regulation 2 Commencement
In force	Regulation 3 Interpretation - general
	Part 2 Scope (regs. 4-6A)
In force	Regulation 4 Scope
In force	Regulation 5 Restriction of Unit Trusts Act 1990
In force	Regulation 6 UCITS established in the State
In force	Regulation 6A Disapplication of sections 1099 to 1110 of Companies Act 2014 to UCITS
	Part 3 Authorisation of UCITS (regs. 7-14)
In force	Regulation 7 Prohibition on UCITS carrying on activities in the State without authorisation
In force	Regulation 8 Requirements for authorising unit trust, common contractual fund or investment company
In force	Regulation 9 Application of management company not established in the State
In force	Regulation 10 Circumstances in which Bank shall not authorise UCITS
In force	Regulation 11 Time limit within which Bank shall inform management or investment company whether or not it is authorised
In force	Regulation 12 Approval of Bank necessary for subsequent changes
In force	Regulation 13 Applications for authorisation
In force	Regulation 14 Bank shall make law, etc. on UCITS accessible
	Part 4 Obligations regarding Management Companies (regs. 15-32)
	Chapter 1 Conditions for taking up business (regs. 15-18)
In force	Regulation 15 Authorisation of management company
In force	Regulation 16 Activities of management company
In force	Regulation 17 Conditions for authorisation of management company and grounds for withdrawal of authorisation
In force	Regulation 18 Application for authorisation
	Chapter 2 Relations with third countries (reg. 19)
In force	Regulation 19 Relations with third countries
	Chapter 3 Operating conditions (regs. 20-25)
In force	Regulation 20 Duty of Bank to ensure that management companies comply with Regulations 16 and 17
In force	Regulation 21 Qualifying holdings
In force	Regulation 22 Prudential rules
In force	Regulation 23 Delegations
In force	Regulation 24 Rules of conduct
In force	Regulation 24A Remuneration policies
In force	Regulation 24B Remuneration policies - supplemental provisions
In force	Regulation 25 Investor complaints
In force	Regulation 25A Procedures for reporting contraventions
	Chapter 5 Freedom of establishment and freedom to provide services (regs. 26-32)
In force	Regulation 26 Establishment of branch and provision of services
In force	Regulation 27 Establishment of branch in another Member State
In force	Regulation 28 Provision of information
In force	Regulation 29 Compliance with rules which relate to constitution and functioning of UCITS, etc.
In force	Regulation 30 Provision of documentation to competent authority
In force	Regulation 31 Provision of documentation to Bank
In force	Regulation 32 Provisions applicable to management company authorised in another Member State
	Part 5 Obligations regarding depositary (regs. 33-38)
In force	Regulation 33 Safe-keeping of assets
In force	Regulation 34 Obligations of depositary
In force	Regulation 34A Depositary delegation
In force	Regulation 35 Depositary
In force	Regulation 36 Liability of depositary
In force	Regulation 37 Prohibition against single company acting as both management company and depositary
In force	Regulation 38 Trust deed, etc. to lay down conditions for replacement of management company, etc.
	Part 6 Obligations Regarding Investment Companies (regs. 39-54)
	Chapter 1 Conditions for taking up business (regs. 39-42A)
In force	Regulation 39 Investment companies with fixed capital
In force	Regulation 40 Investment companies with variable capital
In force	Regulation 41 Provisions supplementary to Regulations 39 and 40
In force	Regulation 42 Authorisation of investment company
In force	Regulation 42A
	Chapter 2 Operating conditions (regs. 43-45A)
In force	Regulation 43 Application of Regulations 23, 24, 24A and 24B
In force	Regulation 44 Prudential rules for investment companies
In force	Regulation 45 Application of segregated liability to investment companies established as UCITS
In force	Regulation 45A Obligation for investment companies to integrate sustainability risks in management of UCITS
	Chapter 3 Obligations regarding trustee (regs. 46-54)
Deleted	Regulation 46 Safe-keeping of assets
Deleted	Regulation 47 Obligations of trustee
Deleted	Regulation 48 Exemption from requirement to have trustee
Deleted	Regulation 49 Further exemption
Deleted	Regulation 50 Requirement on Bank to inform ESMA and Commission regarding exemptions
Deleted	Regulation 51 Application of Regulation 35(1) to (3) and (7)
Deleted	Regulation 52 Liability of trustee
Deleted	Regulation 53 Company shall not act as both investment company and trustee
Deleted	Regulation 54 Articles to lay down conditions for replacement of trustee
	Part 7 Mergers of UCITS (regs. 55-66)
In force	Regulation 55 Interpretation - Part 7
In force	Regulation 56 Permitted mergers
In force	Regulation 57 Authorisation by Bank of merger
In force	Regulation 58 Terms of merger
In force	Regulation 59 Verification
In force	Regulation 60 Validation of certain matters
In force	Regulation 61 Information on merger
In force	Regulation 62 Maximum percentage of votes cast to approve merger
In force	Regulation 63 Purchase or redemption of units
In force	Regulation 64 Legal, advisory and administrative costs of merger
In force	Regulation 65 Law applicable to merger
In force	Regulation 66 Consequences of different kinds of merger
	Part 8 Obligations concerning Investment Policies of UCITS (regs. 67-77)
In force	Regulation 67 Sub-funds of UCITS to be regarded as separate UCITS
In force	Regulation 68 Permitted investments
In force	Regulation 69 Risk-management
In force	Regulation 70 Investments in one issuer's securities
In force	Regulation 71 Index funds
In force	Regulation 72 Securities issued or guaranteed by States, etc.
In force	Regulation 73 Investments in UCITS and other collective investment undertakings
In force	Regulation 74 Acquisitions of shares carrying voting rights
In force	Regulation 75 Subscription rights
In force	Regulation 76 Derogation for recently authorised UCITS
In force	Regulation 77 Breaches of limits
	Part 9 Master - Feeder Structures (regs. 78-87)
	Chapter 1 Scope and approval (regs. 78-87)
In force	Regulation 78 Meaning of feeder UCITS and master UCITS, etc.
In force	Regulation 79 Approval by Bank of investment of feeder UCITS
In force	Regulation 80 Common provisions for feeder UCITS and master UCITS
In force	Regulation 81 Provisions applicable where master UCITS and feeder UCITS have different depositaries
In force	Regulation 82 Provisions applicable where master UCITS and feeder UCITS have different auditors
In force	Regulation 83 Additional information to be contained in prospectus of feeder UCITS
In force	Regulation 84 Information to be provided to unit-holders by certain feeder UCITS
In force	Regulation 85 Feeder UCITS to monitor master UCITS, etc.
In force	Regulation 86 Information to be supplied to Bank by master UCITS authorised by Bank, etc.
In force	Regulation 87 Information to be given by Bank in relation to non-compliance, etc.
	Part 10 Obligations concerning Information to be provided to Investors (regs. 88-102A)
	Chapter 1 Publication of prospectus and periodical reports (regs. 88-95)
In force	Regulation 88 Information to be published by investment or management company
In force	Regulation 89 Information to be included in prospectus and periodic reports
In force	Regulation 90 Provisions supplementary to Regulation 89
In force	Regulation 91 Annexation of trust deed, etc. to prospectus, etc.
In force	Regulation 92 Prospectus to be kept up to date
In force	Regulation 93 Auditing of accounting information
In force	Regulation 94 Prospectus, etc. to be sent to Bank, etc.
In force	Regulation 95 Provision of prospectus, etc. to investors
	Chapter 2 Publication of other information (regs. 96-97)
In force	Regulation 96 Publication of price of units
Deleted	Regulation 97 Marketing communications to investors
	Chapter 3 Key investor information (regs. 98-102A)
In force	Regulation 98 Drawing up of key information for investors
In force	Regulation 99 Pre-contractual information, etc.
In force	Regulation 100 Timing of provision of key investor information
In force	Regulation 101 Medium of provision of key investor information
In force	Regulation 102 UCITS to send key investor information to Bank, etc.
In force	Regulation 102A Key information document
	Part 11 General Obligations of UCITS (regs. 103-114)
In force	Regulation 103 Borrowing of money by UCITS
In force	Regulation 104 Redemption, etc. at request of unit-holder
In force	Regulation 105 Creation and cancellation of units of unit trust or common contractual fund
In force	Regulation 106 Issue of registered or bearer certificates
In force	Regulation 107 Winding up of investment company
In force	Regulation 108 Value of assets
In force	Regulation 109 Application of income
In force	Regulation 110 Issue and redemption or repurchase of units
In force	Regulation 111 Loans or guarantees
In force	Regulation 112 Uncovered sales of transferable securities, etc.
In force	Regulation 113 Umbrella funds
In force	Regulation 114 Remuneration and expenditure
	Part 12 Special Provisions Applicable to UCITS which Market their Units in Member States other than those in which they are established (regs. 115-120)
In force	Regulation 115 UCITS authorised in another Member State may market units in the State without imposition of additional requirements, etc.
In force	Regulation 116 Provision of facilities in relation to unit-holders
In force	Regulation 117 Notification requirements
In force	Regulation 117A
In force	Regulation 118 Information for investors in host Member State
In force	Regulation 119 Legal form of designation of UCITS
In force	Regulation 120 Power of Bank to prohibit marketing
	Part 13 Provisions Concerning Authorities Responsible for Authorisation and Supervision (regs. 121-137)
In force	Regulation 121 Establishment of Bank as competent authority
In force	Regulation 122 Liability of Bank and the State
In force	Regulation 123 Powers of Bank
In force	Regulation 124 Register of authorised UCITS
In force	Regulation 125 Keeping of books and records
In force	Regulation 126 Furnishing of information to Bank
In force	Regulation 127 Application by Bank to High Court
In force	Regulation 128 Replacement of management company or depositary
In force	Regulation 129 Revocation of authorisation
In force	Regulation 130 Notice of intention to revoke
In force	Regulation 131 Directions by Bank
In force	Regulation 132 Penalties
In force	Regulation 132A Penalties for purposes of section 33AQ of Central Bank Act 1942
In force	Regulation 132B Effective application of sanctions and exercise of powers to impose sanctions
In force	Regulation 132C Bank to report to European Securities and Markets Authority
In force	Regulation 132D Publication by Bank of decisions
In force	Regulation 133 Collaboration with competent authorities in other Member States
In force	Regulation 134 Reports by auditor of UCITS
In force	Regulation 135 Bank to give reasons for decisions, etc.
In force	Regulation 136 Exchange of information with other competent authorities
In force	Regulation 137 Investigation by competent authority in another Member State of management company authorised by Bank
	Part 14 Derogations, Transitional and Final Provisions (regs. 138-139)
In force	Regulation 138 Transitional provisions applicable to existing investment firms and management companies
In force	Regulation 139 Revocations, etc.
In force	Schedule 1 Functions included in Activity of Collective Portfolio Management
	Schedule 2 Transferable Securities
In force	Schedule 2, Part 1 Criteria applicable to transferable securities which fall within paragraph (a), (b) or (c) of definition in regulation 3(1) of "transferable securities" (para. 1)
In force	Schedule 2, Part 2 Securities specified for purposes of paragraph (d) of definition in Regulation 3(1) of "transferable securities" (para. 2)
In force	Schedule 3 Interpretation of references in these regulations to money market instruments
In force	Schedule 4 Prudential Requirements Applicable to Management companies
In force	Schedule 5 Conduct requirements applicable to Management Companies
In force	Schedule 6 Particulars of standard agreement between depositary and management company
In force	Schedule 7 Detailed content, format and method by which to provide information referred to in Regulation 61
In force	Schedule 8 Provision of Key Investor Information
In force	Schedule 9 Requirements Applicable to Risk management
	Schedule 10 Requirements applicable to master-feeder structures
In force	Schedule 10, Part 1 Content of information sharing agreement between master ucits and feeder ucits (paras. 1-16)
In force	Schedule 10, Part 2 Liquidation, Merger or Division of master UCITS (paras. 17-25)
In force	Schedule 10, Part 3 Content of Information Sharing Agreement where Master UCITS and Feeder UCITS have different Depositaries (paras. 26-27)
In force	Schedule 10, Part 4 Content of Information Sharing Agreement where Master UCITS and Feeder UCITS have Different Auditors (paras. 28-30)
In force	Schedule 11 Information to be contained in prospectus
In force	Schedule 12 Information to be included in periodic reports
In force	Schedule 13 Information to be made Accessible by Bank
In force	Schedule 14 Notification Requirements
In force	Schedule 15 Requirements Applicable to Simplified Prospectus
	Schedule 16 Table of Cross-References to Specific UCITS Regulations in Legislation
In force	Schedule 16, Part 1 Unit Trusts Act 1990 (No. 37 of 1990)
In force	Schedule 16, Part 2 Companies Act 1990 (No. 33 of 1990)
In force	Schedule 16, Part 3 Investment Funds, Companies and Miscellaneous Provisions Act 2005 (No. 12 of 2005)
In force	Schedule 17
	Given under

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