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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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252A. Proposal to convert to a non-feeder UCITS

(1) This section applies where the manager of an authorised unit trust scheme which is a feeder UCITS proposes to make an alteration to the scheme which -

(a) involves a change in the trust deed, and

(b) will enable the scheme to convert into a UK UCITS which is not a feeder UCITS.

(2) The manager must give written notice of the proposal to the FCA.

(3) Any notice given in respect of such a proposal must be accompanied by -

(a) a certificate signed by a solicitor to the effect that the change will not affect the compliance of the deed with the trust scheme rules; and

(b) the specified information.

(4) The FCA must, within 15 working days after the date on which it received the notice under subsection (2), give -

(a) written notice to the manager of the scheme that the FCA approves the proposed amendments to the trust deed, or

(b) separate warning notices to the manager and trustee of the scheme that the FCA proposes to refuse approval of the proposed amendments.

(5) Effect is not to be

Comparing proposed amendment...