# The Financial Services Act 1986 (Single Property Schemes) (Exemption) Regulations 1989, Regulation 10: Corporate based schemes: requirements as to winding-up


The terms of a corporate based scheme must ensure that a majority representing at least 51% in number of the units in the scheme may, at a meeting of participants convened in accordance with the terms of the scheme at which votes may be cast in person or by proxy, require that the scheme be wound-up in the event of the disposal of the whole or substantially the whole of the property subject to the scheme.

---
Source: https://www.legislation.gov.uk/uksi/1989/28/regulation/10 (the official version)
Page: https://openlegislation.uk/financial-services-act-1986-single-property-schemes-exemption-regulations-1989/regulation-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.