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

Extent: E+W+S+N.I.

(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/uksi/2019/632/regulation/132 (the official version)
Page: https://openlegislation.uk/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.