Article 6

(1)

Section 76 of the Financial Services Act 1986 shall come into force on 29th April 1988 except insofar as it has effect in relation to —

(a)

a collective investment scheme which takes the form of an open-ended investment company units in which are either included in the Official List of The International Stock Exchange of the United Kingdom and the Republic of Ireland Limited or are offered on terms such that any agreement for their acquisition is conditional upon their admission to that List; or

(b)

any prospectus issued by or on behalf of an open-ended investment company which complies with Chapter II of Part III of the Companies Act 1985^f1 or the corresponding provisions of the Companies (Northern Ireland) Order 1986^f2 and the issue of which in the United Kingdom does not contravene section 74 or 75 of the Companies Act 1985 or the corresponding provisions of the Companies (Nothern Ireland) Order 1986 as the case may be.

(2)

Section 76 of the Financial Services Act 1986 shall come into force for all remaining purposes on 1st July 1988.

Annotations

Footnotes

f1: 1985 c. 6.
f2: S.I. 1986/1032 (N.I.6).