Regulation 132 Article 51ZA (managing a UCITS)C1I1
United Kingdom
Article 51ZA M1 (managing a UCITS) is amended as set out in paragraphs (2) to (4).
In the heading and in paragraph (1), for “a UCITS” substitute “ a UK UCITS ”.
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.”.”
In paragraph (3), for “a UCITS” substitute “ a UK UCITS ”.
In consequence of the amendments made by paragraphs (2) to (4)—
in article 72H M2, in paragraph (2)(m), for “a UCITS” substitute “ a UK UCITS ”;
omit Schedule 6.
Annotations
Marginal citations
- M1
Article 51ZA was inserted by S.I. 2013/1773.
- M2
Article 72H was inserted by S.I. 2014/366.
Modifications
- C1
Pts. 3-6 modified in part (31.12.2020) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(2), 11(1)(4)(5) (with reg. 11(8)-(10)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(f)); 2020 c. 1, Sch. 5 para. 1(1)
Commencement
- I1
Reg. 132 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)