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Version status: Partly in force | Document consolidation status: Updated to reflect all known changes
Version date: 1 August 2004 - onwards
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Schedule 2, Part 9 Amendment of European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 (S.I. No. 211 of 2003)

Section 10(3).

Item

Provision affected

Amendment

1.

Regulation 14

Substitute the following Regulation:

 

 

"Refusal of authorisation and right of appeal.

14. (1) As soon as practicable after deciding to refuse an application for authorisation the Bank shall, by notice in writing, inform the company of its decision. A decision refusing the application must include a statement of the grounds on which it is based.

 

 

 

(2) If the application complies with Regulation 13, the Bank shall in any case comply with paragraph (1) within 6 months after the date on which the Bank received the application.".

2.

Regulation 104

Substitute the following Regulation:

 

 

"Directions by the Bank.

104. (1) If the Bank is of the opinion that—

 

 

(a) it is in the public interest to do so, or

 

 

 

(b) it is in the interests of the orderly and proper regulation of UCITS, or

 

 

 

(c) any of the requirements fo

Comparing proposed amendment...