# The Open-Ended Investment Companies Regulations 2001, Regulation 38: Capacity of company


(1) The validity of an act done by an open-ended investment company cannot be called into question on the ground of lack of capacity by reason of anything in these Regulations, FCA rules or the company’s instrument of incorporation.
(2) Nothing in paragraph (1) affects the duty of the directors to observe any limitation on their powers.

---
Source: https://www.legislation.gov.uk/uksi/2001/1228/regulation/38 (the official version)
Page: https://openlegislation.uk/open-ended-investment-companies-regulations-2001/regulation-38
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.