Regulation 27 Master-feeder structuresI1

United Kingdom

(1)

Section 283A M1 (master-feeder structures) is amended as follows.

(2)

In subsection (1), for the words from “rules made” to “directive” substitute “ rule 5.2.11(9) of the Collective Investment Schemes sourcebook ”.

(3)

In subsection (3)(a)—

(a)

for “that the UCITS” substitute “ that the UK UCITS ”;

(b)

in sub-paragraph (i) for “Chapter VIII of the UCITS directive,” substitute “ the Chapter 8 provisions, ”.

(4)

After subsection (3) insert—

“(3A)
In subsection (3)(a)(i) “the Chapter 8 provisions” means—
(a)
in relation to a UK UCITS or its operator, trustee or depositary, or auditor, any provision made by or under an enactment in implementation of Chapter 8 of the UCITS directive, and
(b)
in relation to an EEA UCITS or its operator, Chapter 8 of the UCITS directive.”

Annotations

Marginal citations

M1: Section 283A was inserted by S.I. 2011/1613; amended by paragraph 9 of Schedule 18 to the Financial Services Act 2012 and by S.I. 2013/1388.

Commencement

I1: Reg. 27 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)