(1) Part 4 of the Undertakings for Collective Investment in Transferable Securities Regulations 2011 [S.I. 2011/1613 as amended by S.I. 2013/472.] (mergers) is amended as follows.
(2) In regulation 7 (interpretation), in paragraph (1) -
(a) in the definition of "depositary" -
(i) omit the word "means" immediately after "depositary";
(ii) after paragraph (a) insert -
"(aa) in relation to an authorised contractual scheme means the person by whom, or to whose order, the property subject to the scheme is held;";
(b) in the definition of "managers" -
(i) for "managers" substitute "manager";
(ii) after paragraph (a) insert -
"(aa) in relation to an authorised contractual scheme, the operator of that scheme,";
(c) in the definition of "UCITS", after "open-ended investment company," insert "an authorised contractual scheme";
(d) in the definition of "unit-holders" -
(i) in paragraph (a) for "UCITS" substitute "company";
(ii) after paragraph (a) insert -
"(aa) in the case of an authorised contr
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