(1) The FCA may make rules ("trust scheme rules") as to -
(a) the constitution, management and operation of authorised unit trust schemes;
(b) the powers, duties, rights and liabilities of the manager and trustee of any such scheme;
(c) the rights and duties of the participants in any such scheme; and
(d) the winding up of any such scheme.
(2) Trust scheme rules may, in particular, make provision -
(a) as to the issue and redemption of the units under the scheme;
(b) as to the expenses of the scheme and the means of meeting them;
(c) for the appointment, removal, powers and duties of an auditor for the scheme;
(d) for restricting or regulating the investment and borrowing powers exercisable in relation to the scheme;
(e) requiring the keeping of records with respect to the transactions and financial position of the scheme and for the inspection of those records;
(f) requiring the preparation of periodical reports with respect to the scheme and the provision of those reports to the part
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