Regulation 40 No duty to enquire as to capacity etc.
Subject to regulation 39(4)(b)(ii), a party to a transaction with an open-ended investment company is not bound to enquire—
(a)
as to whether the transaction is permitted by these Regulations, F1FCA rules or the company’s instrument of incorporation; or
(b)
as to any limitation on the powers referred to in regulation 39(1)(a) or (b).
Annotations
Textual amendments
- F1
Words in Regulations substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 41(2)