1. Irish Company Law
  2. Legislation (IE)
  3. Statutory Instruments
  4. 1989
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  1. European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 1989 [S.I. No. 78 of 1989]
  2. Part VII Investment Policies of UCITS (regs. 45-58)
  3. Regulation 54 Limits in relation to non-voting shares, debt securities or units of a UCITS.
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Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 29 May 2003 - onwards
  Version 3 of 3    

Regulation 54 Limits in relation to non-voting shares, debt securities or units of a UCITS.

Revoked from 29 May 2003

(1) A UCITS may acquire not more than:

(a) 10 per cent of the non-voting shares of any single issuing body;

(b) 10 per cent of the debt securities of any single issuing body;

(c) 10 per cent of the units of any single UCITS to which Regulation 3 (2) applies.

(2) The limits laid down in paragraph (1) (b) and (c) may be disregarded at the time of acquisition if at that time the gross amount of the debt securities or the net amount of the securities in issue cannot be calculated.

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