# The Open-Ended Investment Companies Regulations 2001, Paragraph 2

Extent: E+W+S+N.I.

The statements referred to in paragraph 1(a) are—
(a) the head office of the company is situated in England and Wales (or Wales), in Scotland or in Northern Ireland (as the case may be);
(b) the company is an open-ended investment company with variable share capital;
(ba) in the case of an umbrella company, the assets of a sub-fund belong exclusively to that sub-fund and shall not be used to discharge the liabilities of or claims against the umbrella company or any other person or body, or any other sub-fund, and shall not be available for any such purpose;
(c) the shareholders are not liable for the debts of the company;
(d) the scheme property is entrusted to a depositary for safekeeping (subject to any exceptions permitted by FCA rules); and
(e) charges or expenses of the company may be taken out of the scheme property.

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Source: https://www.legislation.gov.uk/uksi/2001/1228/schedule/2/paragraph/2 (the official version)
Page: https://openlegislation.uk/open-ended-investment-companies-regulations-2001/schedule-2/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.