{
  "url": "https://openlegislation.uk/authorised-unit-trust-scheme-investment-and-borrowing-powers-regulations-1988/regulation-16",
  "json_url": "https://openlegislation.uk/authorised-unit-trust-scheme-investment-and-borrowing-powers-regulations-1988/regulation-16.json",
  "legislation": "uksi/1988/284",
  "legislation_title": "The Authorised Unit Trust Scheme (Investment and Borrowing Powers) Regulations 1988",
  "legislation_url": "https://openlegislation.uk/authorised-unit-trust-scheme-investment-and-borrowing-powers-regulations-1988",
  "path": "regulation/16",
  "kind": "regulation",
  "number": "16",
  "heading": "Limitation on acquisition of influential stake",
  "text": "(1) Subject to the provisions of paragraph (2), the property of an authorised securities scheme shall not include—\n(a) shares in a body corporate which carry more than 10% of the rights to vote in all circumstances at general meetings of the body corporate; or\n(b) more than 10% of—\n(i) any other shares in a body corporate other than an open-ended investment company; or\n(ii) any investment, other than a Government and other public security, which falls within paragraph 2 of Schedule 1 to the Act and is issed by the same issuer;\n(iii) the units in any collective investment scheme.\n(2) The provisions of sub-paragraphs (a) and (b)(ii) and (iii) of paragraph (1) shall not have effect in any case in which it was not possible, at the time the transferable securities were acquired, to ascertain whether the acquisition would contravene those provisions.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "amended",
      "affecting": "uksi/1989/1437",
      "affecting_title": "The Authorised Unit Trust Scheme (Investment and Borrowing Powers) (Amendment) Regulations 1989"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1988/284/regulation/16",
    "retrieved_at": "2026-10-29T16:11:24.323440+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}