European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 1989 [S.I. No. 78 of 1989]

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Version status: Revoked | Document consolidation status: Updated to reflect all known changes

Published date: 18 April 1989

Consolidation Status: Updated to reflect all known changes

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	Introductory Text
	Part I Preliminary (regs. 1-2)
Revoked	Regulation 1 Citation and commencement.
Revoked	Regulation 2 Interpretation.
	Part II Scope (regs. 3-5)
Revoked	Regulation 3 Scope.
Revoked	Regulation 4 Restriction of Unit Trusts Act, 1972.
Revoked	Regulation 5 Prohibition on conversion of UCITS into undertaking not subject to Directive.
Revoked	Regulation 5A Application of certain provisions.
	Part III Competent Authority (regs. 6-8)
Revoked	Regulation 6 Bank to be competent authority.
Revoked	Regulation 7 Liability of Bank.
Revoked	Regulation 8 Publication of names of authorized UCITS.
	Part IV Authorization of UCITS (regs. 9-15)
Revoked	Regulation 9 Situation of UCITS.
Revoked	Regulation 10 Prohibition on UCITS carrying on activities in the State without authorization.
Revoked	Regulation 11 Requirements for authorization.
Revoked	Regulation 12 Approval of Bank necessary for subsequent changes.
Revoked	Regulation 13 Applications for authorization.
Revoked	Regulation 14 Refusal of authorization and right of appeal.
Revoked	Regulation 15 Right of appeal of UCITS situated in another Member State.
	Part V Unit Trusts (regs. 16-22)
Revoked	Regulation 16 Management company.
Revoked	Regulation 17 Prohibition on management company engaging in other activities.
Revoked	Regulation 18 Assets of a unit trust.
Revoked	Regulation 19 Trustee.
Revoked	Regulation 20 Obligations of trustee.
Revoked	Regulation 21 Liability of trustee.
Revoked	Regulation 22 Prohibition on a single company acting as management company and trustee.
	Part VI Investments Companies (regs. 23-44)
	Chapter 1 Investment companies with fixed capital (regs. 23-27)
Revoked	Regulation 23 Application of Chapter 1.
Revoked	Regulation 24 Share capital.
Revoked	Regulation 25 Name.
Revoked	Regulation 26 Issue of redeemable preference shares.
Revoked	Regulation 27 Restriction of Companies Acts.
	Chapter 2 Investment Companies with Variable capital (regs. 28-34)
Revoked	Regulation 28 Application of Chapter 2.
Revoked	Regulation 29 Share capital.
Revoked	Regulation 30 Name.
Revoked	Regulation 31 Enabling provision regarding purchase of own shares.
Revoked	Regulation 32 Repurchase of shares at request of shareholder and treatment of repurchased shares.
Revoked	Regulation 33 Legal reserve.
Revoked	Regulation 34 Restriction of Companies Acts.
	Chapter 3 General (regs. 35-36)
Revoked	Regulation 35 Modification of Act of 1983.
Revoked	Regulation 36 Modification of Act of 1986.
	Chapter 4 Trustee (regs. 37-44)
Revoked	Regulation 37 Assets of investment companies.
Revoked	Regulation 38 Trustee.
Revoked	Regulation 39 Obligations of trustee.
Revoked	Regulation 40 Exemption from requirement to have trustee.
Revoked	Regulation 41 Further exemption.
Revoked	Regulation 42 Requirement on Bank to inform EC Commission regarding excemptions.
Revoked	Regulation 43 Liability of trustee.
Revoked	Regulation 44 Prohibition on a single company acting as mangement company and trustee.
	Part VII Investment Policies of UCITS (regs. 45-58)
Revoked	Regulation 45 Permitted investments.
Revoked	Regulation 46 Limitations on investments.
Revoked	Regulation 47 Limit of 10 per cent of assets in other investments.
Revoked	Regulation 48 Ancillary liquid assets and investment techniques and instruments.
Revoked	Regulation 49 Investment in one issuer's securities.
Revoked	Regulation 50 Securities issued or guaranteed by States, local authorities or public international bodies.
Revoked	Regulation 51 Investments in other UCITS.
Revoked	Regulation 52 Acqusition of securities in a linked unit trust or investment company.
Revoked	Regulation 53 Acquisition of shares carrying voting rights.
Revoked	Regulation 54 Limits in relation to non-voting shares, debt securities or units of a UCITS.
Revoked	Regulation 55 Exemptions from Regulations 53 and 54.
Revoked	Regulation 56 Subscription rights.
Revoked	Regulation 57 Derogations for recently authorized UCITS.
Revoked	Regulation 58 Breaches of limits.
	Part VIII General Provisions Relating to UCITS (regs. 59-71)
Revoked	Regulation 59 Obligation on UCITS to redeem or repurchase units.
Revoked	Regulation 60 Issue of units.
Revoked	Regulation 61 Redemption or repurchase of units.
Revoked	Regulation 62 Value of assets.
Revoked	Regulation 63 Suspension of repurchase or redemption of units.
Revoked	Regulation 64 Creation and cancellation of units of a unit trust.
Revoked	Regulation 65 Issue of registered certificates or bearer securities.
Revoked	Regulation 66 Replacement of management company and trustee.
Revoked	Regulation 67 Remuneration and expenditure.
Revoked	Regulation 68 Application of income.
Revoked	Regulation 69 Borrowing.
Revoked	Regulation 70 Loans or guarantees.
Revoked	Regulation 71 Sales of securities.
	Part IX Prospectus, Reports and Publication of other Information (regs. 72-85)
Revoked	Regulation 72 Publication of prospectus.
Revoked	Regulation 73 Annexation of trust deed or articles to prospectus.
Revoked	Regulation 74 Offering of prospectus to investors before contract concluded and transmission of prospectus to Bank.
Revoked	Regulation 75 Publication of annual and half-yearly reports.
Revoked	Regulation 76 Time limits.
Revoked	Regulation 77 Contents of annual report.
Revoked	Regulation 78 Contents of half-yearly report.
Revoked	Regulation 79 Transmission of reports to Bank.
Revoked	Regulation 80 Offering of reports to investors before contract concluded.
Revoked	Regulation 81 Availability to public of reports.
Revoked	Regulation 82 Supply of reports to unit-holders.
Revoked	Regulation 83 Auditing requirements in relation to annual report.
Revoked	Regulation 84 Publication of issue and redemption prices.
Revoked	Regulation 85 Publicity.
	Part X Special Provisions applicable to UCITS Marketing in a Member State other than that in which is situated (regs. 86-93)
Revoked	Regulation 86 Prior requirements.
Revoked	Regulation 87 Entitlement to market in the State.
Revoked	Regulation 88 Compliance with law, regulations and administrative provisions.
Revoked	Regulation 89 Advertising.
Revoked	Regulation 90 Provision of facilities in relation to unit-holders.
Revoked	Regulation 91 Distribution of documents and other information.
Revoked	Regulation 92 Power of Bank to prohibit marketing.
Revoked	Regulation 93 Generic names.
	Part XI Special Provisions in relation to the Central Bank of Ireland (regs. 94-97)
Revoked	Regulation 94 Collaboration with competent authorities in other Member States.
Revoked	Regulation 95 Professional secrecy.
Revoked	Regulation 96 Application of professional secrecy to information exchanged with other competent authorities.
Revoked	Regulation 97 Restriction on use of information received from other Member States.
Revoked	Regulation 97A Exchanges of information between the Bank and other competent authorities.
Revoked	Regulation 97B Exchanges of information between company law authorities.
Revoked	Regulation 97C Exchanges of information between monetary authorities.
Revoked	Regulation 97D Exchanges of information between clearing house authorities.
Revoked	Regulation 97E Exchanges of information with Departments of State.
	Part XII Inspection and Enforcement Power of Central Bank (regs. 98-105)
Revoked	Regulation 98 Compliance with additional requirements imposed by Bank.
Revoked	Regulation 99 Keeping of books and records.
Revoked	Regulation 100 Furnishing of information to Bank.
Revoked	Regulation 101 Application by Bank to High Court.
Revoked	Regulation 102 Revocation of authorization.
Revoked	Regulation 103 Notice of intention to revoke.
Revoked	Regulation 104 Bank's powers of intervention.
Revoked	Regulation 105 Review of Bank's decision, etc., by the High Court.
	Part XIII Offences (reg. 106)
Revoked	Regulation 106 Penalties.
	Part XIV Transitional Provision (reg. 107)
Revoked	Regulation 107 Existing UCITS.
Revoked	Annex A
Revoked	Annex B
Revoked	Annex C
	Given under
	Explanatory Note

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