{
  "url": "https://openlegislation.uk/open-ended-investment-companies-regulations-2001/regulation-40",
  "json_url": "https://openlegislation.uk/open-ended-investment-companies-regulations-2001/regulation-40.json",
  "legislation": "uksi/2001/1228",
  "legislation_title": "The Open-Ended Investment Companies Regulations 2001",
  "legislation_url": "https://openlegislation.uk/open-ended-investment-companies-regulations-2001",
  "path": "regulation/40",
  "kind": "regulation",
  "number": "40",
  "heading": "No duty to enquire as to capacity etc.",
  "text": "Subject to regulation 39(4)(b)(ii), a party to a transaction with an open-ended investment company is not bound to enquire—\n(a) as to whether the transaction is permitted by these Regulations, FCA rules or the company’s instrument of incorporation; or\n(b) as to any limitation on the powers referred to in regulation 39(1)(a) or (b).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/1228/regulation/40",
    "retrieved_at": "2026-10-29T07:52:42.307916+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}