{
  "url": "https://openlegislation.uk/common-investment-scheme-2004/schedule-2/paragraph-4",
  "json_url": "https://openlegislation.uk/common-investment-scheme-2004/schedule-2/paragraph-4.json",
  "legislation": "uksi/2004/266",
  "legislation_title": "The Common Investment Scheme 2004",
  "legislation_url": "https://openlegislation.uk/common-investment-scheme-2004",
  "path": "schedule/2/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": null,
  "text": "(1) The provisions of this paragraph have effect for the purpose of valuing the fund.\n(2) The value of any security quoted on a stock exchange shall be ascertained by reference to the most recent published price available on that exchange; and the value of a security quoted on more than one stock exchange shall be ascertained by reference to the most recent published price available on the exchange considered by the investment manager to be most appropriate.\n(3) The value of any investment in an authorised collective investment scheme not quoted on any stock exchange shall be ascertained as if that investment had been made by an authorised unit trust scheme within the meaning of section 237 of the Financial Services and Markets Act 2000.\n(4) The value of assets, other than those to be valued in accordance with sub-paragraphs (2) or (3), shall be such as may be determined by the investment manager, who may, for the purpose of making such a determination, obtain and accept a valuation by a professional valuer, accountant, or other person considered by him to be duly qualified in that respect.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "2000 c. 8."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2004/266/schedule/2/paragraph/4",
    "retrieved_at": "2026-10-29T05:34:24.133864+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."
}