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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 April 2013 - onwards
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Schedule 2 Instrument of Incorporation

Regulation 14

1. The instrument of incorporation of an open-ended investment company must -

(a) contain the statements set out in paragraph 2; and

(b) contain provision made in accordance with paragraphs 3 and 4.

2. The statements referred to in paragraph 1(a) are -

(a) the head office of the company is situated in England and Wales (or Wales), in Scotland or in Northern Ireland (as the case may be);

(b) the company is an open-ended investment company with variable share capital;

(ba) in the case of an umbrella company, the assets of a sub-fund belong exclusively to that sub-fund and shall not be used to discharge the liabilities of or claims against the umbrella company or any other person or body, or any other sub-fund, and shall not be available for any such purpose;

(c) the shareholders are not liable for the debts of the company;

(d) the scheme property is entrusted to a depositary for safekeeping (subject to any exceptions permitted by FCA rules); and

(e) charges or expenses of t

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