Date-stamp loading
Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
  Version 2 of 2    

261S. Proposal to convert to a non-feeder UCITS

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

(a) involves a change in the contractual scheme deed, and

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

(2) The operator 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 contractual 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 operator of the scheme that the FCA approves the proposed amendments to the contractual scheme deed, or

(b) separate warning notices to the operator and depositary of the scheme that the FCA proposes to refuse approval o

Comparing proposed amendment...