# The Authorised Unit Trust Scheme (Investment and Borrowing Powers) Regulations 1988, Regulation 28: Prohibition on fund of funds investing in another fund of funds


(1) None of the property of a fund of funds shall include units in another fund of funds or units in a recognised scheme which would, if authorised, be a fund of funds.
(2) None of the property of a fund of funds shall include units in any separate part of the property of an umbrella fund if that separate part of the property would, if authorised, be a fund of funds.

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Source: https://www.legislation.gov.uk/uksi/1988/284/regulation/28 (the official version)
Page: https://openlegislation.uk/authorised-unit-trust-scheme-investment-and-borrowing-powers-regulations-1988/regulation-28
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.