OpenLegislation

Regulation 12 UK ... management companies: changes to servicesF3F4I1

United Kingdom

(1)

A UK firm which is providing services in exercise of an EEA right, deriving from F1... F2the UCITS directive, must not make a change in the programme of operations, or the EEA activities, to be carried on in exercise of that right, unless the relevant requirements have been complied with.

(2)

For the purposes of this regulation, the “relevant requirements” are that—

(a)

the firm has given a notice to the Authority and to the host state regulator stating the details of the proposed change; or

(b)

if the change is occasioned by circumstances beyond the firm’s control, it has as soon as practicable (whether before or after the change) given a notice to the Authority and to the host state regulator, stating the details of the change.

Annotations

Textual amendments

F1

Words in reg. 12(1) omitted (1.11.2007) by virtue of The Financial Services and Markets Act 2000 (EEA Passport Rights) (Amendment) Regulations 2006 (S.I. 2006/3385), regs. 1(2), 12(b) (with reg. 15)

F2

Words in reg. 12(1) inserted (13.2.2004) by The Collective Investment Schemes (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/2066), regs. 1(1), 4(2)(b)(ii)

F3

Words in reg. 12 heading omitted (1.11.2007) by virtue of The Financial Services and Markets Act 2000 (EEA Passport Rights) (Amendment) Regulations 2006 (S.I. 2006/3385), regs. 1(2), 12(a) (with reg. 15)

F4

Words in reg. 12 heading inserted (13.2.2004) by The Collective Investment Schemes (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/2066), regs. 1(1), 4(2)(b)(i)

Commencement

I1

Reg. 12 in force at 1.12.2001, see reg. 1(1)