# The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013, Regulation 14: The Undertakings for Collective Investment in Transferable Securities Regulations 2011


(1) Part 4 of the Undertakings for Collective Investment in Transferable Securities Regulations 2011 (mergers) is amended as follows.
(2) In regulation 7 (interpretation), in paragraph (1)—
(a) in the definition of “depositary”—
(i) omit the word “means” immediately after “depositary”;
(ii) after paragraph (a) insert—
“(aa) in relation to an authorised contractual scheme means the person by whom, or to whose order, the property subject to the scheme is held;”;
(b) in the definition of “managers”—
(i) for “managers” substitute “ manager ”;
(ii) after paragraph (a) insert—
“(aa) in relation to an authorised contractual scheme, the operator of that scheme,”;
(c) in the definition of “UCITS”, after “open-ended investment company,” insert “ an authorised contractual scheme ”;
(d) in the definition of “unit-holders”—
(i) in paragraph (a) for “UCITS” substitute “ company ”;
(ii) after paragraph (a) insert—
“(aa) in the case of an authorised contractual scheme, the unit-holders in that scheme; and”; and
(e) in the definition of “units”, in paragraph (b), after “authorised unit trust scheme” insert “ or an authorised contractual scheme ”.
(3) In regulation 8, in paragraph (1), after “new company” insert “ , contractual scheme ”.

---
Source: https://www.legislation.gov.uk/uksi/2013/1388/regulation/14 (the official version)
Page: https://openlegislation.uk/collective-investment-in-transferable-securities-contractual-scheme-regulations-2013/regulation-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.