# The Financial Services Act 1986 (Single Property Schemes) (Exemption) Regulations 1989, Regulation 24: Convening of meetings


The terms of a scheme must provide that–
(a) the trustee or operator, in the case of a trust based scheme, and the operator, in the case of a corporate based scheme, must–
(i) be able to convene meetings of all participants at such time and place as may be thought fit; and
(ii) be under an obligation, at the request in writing of participants holding not less than one-tenth (or any proportion less than one-tenth specified for this purpose in the documents constituting the scheme) in value of the units in issue, to convene a meeting of all participants at such time and place as may be thought fit;
(b) at least two weeks written notice must be required to be given of every meeting;
(c) the notice given must specify the time and place of the meeting and the general nature of the business to be transacted; and
(d) the accidental omission to give notice to or the non-receipt of notice by any participant must not invalidate the proceedings at any meeting.

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Source: https://www.legislation.gov.uk/uksi/1989/28/regulation/24 (the official version)
Page: https://openlegislation.uk/financial-services-act-1986-single-property-schemes-exemption-regulations-1989/regulation-24
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.