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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 27 May 2019 - onwards
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Regulation 14 Borrowings by a UCITS

(1) A responsible person shall not offset credit balances of a UCITS, such as cash, against borrowings, when determining the percentage of borrowings that are outstanding.

(2) A responsible person shall ensure that a UCITS with foreign currency borrowings which exceed the value of the back to back deposit treats that excess as borrowing for the purpose of Regulation 103 of the UCITS Regulations.

Comparing proposed amendment...