(a) A unit trust shall be authorised only if the Bank has approved the trust deed, the name of the unit trust, the trustee, and has authorised the management company pursuant to Regulation 15A.
(b) An investment company shall be authorised only if the Bank has approved its memorandum and articles, the name of the investment company and its choice of trustee.
(c) A common contractual fund shall be authorised only if the Bank has approved the deed of constitution, the name of the common contractual fund and the choice of trustee and has authorised the management company pursuant to Regulation 15A.
(2) The Bank shall not authorise a UCITS if the management company or the investment company does not comply with the preconditions laid down in these Regulations.
(3) The Bank shall not authorise a UCITS if it is legally prevented from marketing its units or shares in the State, including through a provision in the fund rules or instruments of incorporation.