(1) An investment company and, for each of the trusts it manages, a management company must publish a prospectus, which must be dated and the essential elements of which must be kept up to date.
(2) A prospectus issued by a management company or investment company shall include the information necessary for investors to be able to make an informed judgement of the investment proposed to them and shall contain at least the information provided for in Annex A to these Regulations, insofar as that information does not already appear in the documents annexed to the prospectus in accordance with Regulation 73.
(3) The Companies Acts shall not apply in relation to a prospectus published by an investment company.
(4) In the case of umbrella funds, the prospectus shall clearly state the charges applicable to switching of investments from one sub-fund to another.