# The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019, Regulation 132: Article 51ZA (managing a UCITS)


(1) Article 51ZA (managing a UCITS) is amended as set out in paragraphs (2) to (4).
(2) In the heading and in paragraph (1), for “a UCITS” substitute “a UK UCITS”.
(3) For paragraph (2) substitute—
“(2) A person manages a UK UCITS when the person carries on collective portfolio management of it.
(2A) In paragraph (2) “collective portfolio management” includes investment management, administration and marketing; and “administration” here means—
(a) legal and fund management accounting services;
(b) customer inquiries;
(c) valuation and pricing (including tax returns);
(d) regulatory compliance monitoring;
(e) maintenance of unit-holder register;
(f) distribution of income;
(g) unit issues and redemptions;
(h) contract settlements (including certificate dispatch);
(i) record keeping.”.”
(4) In paragraph (3), for “a UCITS” substitute “a UK UCITS”.
(5) In consequence of the amendments made by paragraphs (2) to (4)—
(a) in article 72H, in paragraph (2)(m), for “a UCITS” substitute “a UK UCITS”;
(b) omit Schedule 6.

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Source: https://www.legislation.gov.uk/ukdsi/2019/9780111179970/regulation/132 (the official version)
Page: https://openlegislation.uk/draft-financial-services-and-markets-act-2000-amendment-eu-exit-regulations-2019/regulation-132
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.