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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 30 Distributions out of, and charging of fees and expenses to, capital

(1) A responsible person shall not make any distribution from, or charge any fee or expense to, the capital of a UCITS, unless permitted by the constitutional document of the UCITS.

(2) Where, in accordance with paragraph (1), a responsible person is permitted by the constitutional document of a UCITS to make distributions from or charge fees and expenses to the capital of a UCITS, every such distribution or charge must be in accordance with any provisions contained in that constitutional document concerning the making of a distribution or the imposition of a charge.

(3) A responsible person of a UCITS which proposes to make distributions out of capital shall -

(a) include the risk warning in its prospectus, as specified in Regulation 70(1)(b),

(b) ensure that any income statement issued to unitholders includes a statement to explain the effect of this accounting policy, including wording to the effect that the investor’s capital amount has been reduced, and

(c) include the following

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