# The Undertakings for Collective Investment in Transferable Securities Regulations 2011, Regulation 15: Division of a master UCITS


(1) The interpretive provisions in regulation 7 shall apply to this Part.
(2) This Part applies where a master UCITS which has one or more feeder UCITS is divided into two or more UCITS.
(3) The division shall not take effect unless the master UCITS has provided information comparable to the information specified in regulation 9(2) in relation to the division (“the required information”) to all its unit-holders and to the competent authorities of each of its feeder UCITS at least sixty days before the day on which the division is planned to take effect.
(4) A master UCITS will have complied with the obligation in paragraph (3) to provide information to all its unit-holders if it has sent the required information to each of the unit-holders (or in the case of joint unit-holders, to the first named unit-holder) whose name is entered in the register of unit-holders at the date on which the information is provided.
(5) The master UCITS must enable its feeder UCITS to repurchase or redeem all the units of the master UCITS in which they have invested before the division becomes effective, unless the Authority approves the continued investment by the feeder UCITS in the UCITS resulting from the division.

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Source: https://www.legislation.gov.uk/ukdsi/2011/9780111512265/regulation/15 (the official version)
Page: https://openlegislation.uk/draft-undertakings-for-collective-investment-in-transferable-securities-regulations-2011/regulation-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.