European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 2003 [S.I. No. 211 of 2003]

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

Published date: 29 May 2003

Consolidation Status: Updated to reflect all known changes

Comparing proposed amendment...


	Introductory Text
	Part I Prelimary (regs. 1-2)
Revoked	Regulation 1 Citation.
Revoked	Regulation 2 Interpretation.
	Part II Scope (regs. 3-5)
Revoked	Regulation 3 Scope.
Revoked	Regulation 4 Restriction of Unit Trusts Act 1990.
Revoked	Regulation 5 Prohibition on conversion of UCITS into undertaking not subject to Directive.
	Part III Competent Authority (regs. 6-8)
Revoked	Regulation 6 Bank to be competent authority.
Revoked	Regulation 7 Liability of Bank and State.
Revoked	Regulation 8 Register of names of authorised UCITS and management companies; availability to the public.
	Part IV Authorisation of UCITS (regs. 9-15)
Revoked	Regulation 9 Situation of UCITS.
Revoked	Regulation 10 Prohibition on UCITS carrying on activities in the State without authorisation.
Revoked	Regulation 11 Authorisation of UCITS.
Revoked	Regulation 12 Approval of Bank necessary for subsequent changes.
Revoked	Regulation 13 Refusal of authorisation and right of appeal.
Revoked	Regulation 14 Refusal of authorisation and right of appeal.
Revoked	Regulation 15 Right of appeal of UCITS situated in another Member State.
	Part IVA Authorisation of Management Companies (regs. 15A-17J)
	Chapter 1 Conditions for taking up business and appeal of decisions by the Bank (regs. 15A-15D)
Revoked	Regulation 15A Authorisation by the Bank.
Revoked	Regulation 15B Decision by the Bank and right of appeal.
Revoked	Regulation 15C Right of appeal of a management company authorised in another Member State.
Revoked	Regulation 15D Offence.
	Part V Unit Trust and Common Contractual Funds (regs. 16-23)
Revoked	Regulation 16 Activities of a management company.
Revoked	Regulation 16A Provisions applicable to a management company authorised to provide Individual Portfolio Management Services.
Revoked	Regulation 16B Client's money and investment instruments.
Revoked	Regulation 17 Authorisation of Management Companies.
	Chapter 2 Relations with third countries (reg. 17A)
Revoked	Regulation 17A Relations with third countries.
	Chapter 3 Operating conditions (regs. 17B-17F)
Revoked	Regulation 17B Ongoing Capital Requirements.
Revoked	Regulation 17C Qualifying shareholding.
Revoked	Regulation 17D Prudential rules.
Revoked	Regulation 17E Client approval.
Revoked	Regulation 17F Delegation.
	Chapter 4 The right of establishment and the freedom to provide services (regs. 17G-17J)
Revoked	Regulation 17G Establishment of a branch and provision of services.
Revoked	Regulation 17H Establishment of a branch in another Member State.
Revoked	Regulation 17I Provision of information.
Revoked	Regulation 17J Provisions applicable to a management company authorised in another Member State.
	Part V Unit Trusts and Common Contractual Funds (regs. 18-23)
	Trustee Obligations (regs. 18-23)
Revoked	Regulation 18 Assets of a unit trust or common contractual fund.
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.
Revoked	Regulation 23 Ownership of assets of UCITS established as unit trust or common contractual fund and liability of unit-holders.
	Part VI Investment Companies (regs. 24-44)
	Chapter 1 Investment companies with fixed capital (regs. 24-28)
Revoked	Regulation 24 Application of Chapter 1.
Revoked	Regulation 25 Share capital.
Revoked	Regulation 26 Name.
Revoked	Regulation 27 Issue of redeemable preference shares.
Revoked	Regulation 28 Restriction of Companies Acts.
	Chapter 2 Investment Companies with Variable capital (regs. 29-35)
Revoked	Regulation 29 Application of Chapter 2.
Revoked	Regulation 30 Share capital.
Revoked	Regulation 31 Name.
Revoked	Regulation 32 Enabling provision regarding purchase of own shares.
Revoked	Regulation 32A Cross investment by sub-funds of an umbrella fund.
Revoked	Regulation 33 Repurchase of shares at request of shareholder and treatment of repurchased shares.
Revoked	Regulation 34 Legal reserve.
Revoked	Regulation 35 Restriction of Companies Acts.
	Chapter 3 General (reg. 36-36A)
Revoked	Regulation 36 Modification of Companies Act 1963.
Revoked	Regulation 36A Conditions for taking up business applicable to all investment companies.
	Chapter 4 Provisions applicable to an investment company which has not appointed a management company (regs. 36B-36G)
Revoked	Regulation 36B Application of Chapter 4.
Revoked	Regulation 36C Conditions for taking up business.
Revoked	Regulation 36D Delegation of activities.
Revoked	Regulation 36E Prudential rules.
Revoked	Regulation 36F Application of segregated liability to investment companies established as UCITS.
Revoked	Regulation 36G Application of jurisdiction transfer provisions to investment companies established as UCITS.
	Chapter 5 Assets of investment companies and responsibilities of 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 exemptions.
Revoked	Regulation 43 Liability of trustee.
Revoked	Regulation 44 Prohibition on a single company acting as investment company and trustee.
	Part VII Investment Policies of UCITS (regs. 45-58)
Revoked	Regulation 45 Permitted investments.
Revoked	Regulation 45A Financial Indices.
Revoked	Regulation 46 Limitations on investments.
Deleted	Regulation 47 Limit of 10 per cent of assets in other investments.
Revoked	Regulation 48 Ancillary liquid assets.
Revoked	Regulation 48A Investment techniques and instruments.
Revoked	Regulation 48B Use of Derivative Instruments.
Revoked	Regulation 49 Investment in one issuer's securities.
Revoked	Regulation 49A Index funds.
Revoked	Regulation 50 Securities issued or guaranteed by States, local authorities or public international bodies.
Revoked	Regulation 51 Investment in UCITS and other Collective Investment Undertakings.
Revoked	Regulation 51A UCITS umbrella funds.
Revoked	Regulation 52 Additional disclosure requirements.
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 authorised UCITS.
Revoked	Regulation 58 Breaches of limits.
	Part VIII General Provisions Relating to UCITS (regs. 59-73)
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 or common contractual fund.
Revoked	Regulation 65 Issue of registered certificates or bearer securities.
Revoked	Regulation 66 Replacement of management company and trustee.
Revoked	Regulation 67 Winding up of an investment company.
Revoked	Regulation 68 Remuneration and expenditure.
Revoked	Regulation 69 Application of income.
Revoked	Regulation 70 Borrowing.
Revoked	Regulation 71 Loans or guarantees.
Revoked	Regulation 72 Short Sales.
Revoked	Regulation 73 Umbrella funds.
	Part IX Prospectus, Reports and Publication of other Information (regs. 74-87)
Revoked	Regulation 74 Publication of prospectus.
Revoked	Regulation 75 Annexation of trust deed, deed of constitution or articles of incorporation to prospectus.
Revoked	Regulation 76 Transmission of prospectus and simplified prospectus to Bank.
Revoked	Regulation 77 Publication of annual and half-yearly reports.
Revoked	Regulation 78 Time limits.
Revoked	Regulation 79 Contents of annual report.
Revoked	Regulation 79A
Revoked	Regulation 80 Contents of half-yearly report.
Revoked	Regulation 81 Transmission of reports to Bank.
Revoked	Regulation 82 Offering of simplified prospectus to investors before contract is concluded and availability of prospectus and the latest published annual and half-yearly reports.
Revoked	Regulation 83 Availability to public of annual and half-yearly reports as specified in full and simplified prospectus.
Revoked	Regulation 84 Supply of reports to unit-holders.
Revoked	Regulation 85 Auditing requirements in relation to annual report.
Revoked	Regulation 86 Publication of issue and redemption prices.
Revoked	Regulation 87 Publicity.
	Part X Special Provisions Applicable to UCITS Marketing in a Member State Other Than That in Which it is Situated (regs. 88-95)
Revoked	Regulation 88 Prior requirements.
Revoked	Regulation 89 Entitlement to market in the State.
Revoked	Regulation 90 Compliance with law, regulations and administrative provisions.
Revoked	Regulation 91 Advertising.
Revoked	Regulation 92 Provision of facilities in relation to unit-holders.
Revoked	Regulation 93 Marketing of units.
Revoked	Regulation 94 Power of Bank to prohibit marketing.
Revoked	Regulation 95 Generic names.
	Part XI Collaboration with Competent Authorities in other Member States (reg. 96)
Revoked	Regulation 96 Collaboration with competent authorities in other Member States.
	Part XII Powers of Bank (regs. 97-105)
Revoked	Regulation 97 Compliance with additional requirements imposed by Bank.
Revoked	Regulation 98 Keeping of books and records.
Revoked	Regulation 99 Furnishing of information to Bank.
Revoked	Regulation 100 Application by Bank to High Court.
Revoked	Regulation 101 Replacement of Management Company or Trustee.
Revoked	Regulation 102 Revocation of authorisation.
Revoked	Regulation 103 Notice of intention to revoke.
Revoked	Regulation 104 Directions by the Bank.
Revoked	Regulation 105 Certain decisions of Bank to be appealable.
	Part XIII Offences (reg. 106)
Revoked	Regulation 106 Penalties.
	Part XIV Validity of UCITS Already Authorised and Revocation of Earlier Statutory Instruments (reg. 107)
Revoked	Regulation 107 Validity of UCITS already authorised and revocation of earlier statutory instruments.
Revoked	Schedule 1 Information requirements to be contained in full prospectus
Deleted	Schedule 1 A Information Requirements
Deleted	Schedule 1 B Information to be included in the periodic reports
	Schedule 2 Information to be included in the annual and half-yearly reports
Deleted	Schedule 2, Part 1
Deleted	Schedule 2, Part 2
Revoked	Schedule 3 Table of cross references to specific UCITS Regulations in legislation
Revoked	Schedule 4 Contents of the simplified prospectus
Revoked	Schedule 5 Functions included in the activity of collective portfolio management
Revoked	Schedule 6 Requirements and obligations for authorisation of management companies
Revoked	Schedule 7 Requirements for holding of client money and investment instruments
Revoked	Schedule 8 Code of conduct
	Given under
	Explanatory Note

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