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Open-Ended Investment Companies Regulations (Northern Ireland) 2004

S.R. 2004/335 · Made 10 August 2004 · Extends to Northern Ireland

Up to date with all changes known to legislation.gov.uk, revised to 1 April 2013.

FINANCIAL SERVICES

Made 10th August 2004

To be laid before Parliament under paragraph 7(3) of the Schedule to the Northern Ireland Act 2000.

Coming into operation –

For the purposes of regulation 6 15th September 2004

For all other purposes 1st November 2004

The Department of Enterprise, Trade and Investment, in exercise of the powers conferred on it by section 1 of the Open-Ended Investment Companies Act (Northern Ireland) 2002f1 and of every other power enabling it in that behalf, hereby makes the following Regulations:

Annotations to the whole text

Footnotes

f1

2002 c. 13 (N.I.); see section 2 for the definition of “the Department”

Contents

  1. Part I: GENERAL
  2. 1Citation, commencement and extent
  3. 2Interpretation
  4. Part II: FORMATION, SUPERVISION AND CONTROL
  5. General
  6. 3Open-ended investment company
  7. 4Registration by the Authority
  8. 5Safekeeping of scheme property by depositary
  9. 6FCA rules
  10. 7Modification or waiver of FCA rules
  11. 8Notices: general
  12. 9Publication
  13. 10The regulator’s procedures
  14. 11The Tribunal
  15. Authorisation
  16. 12Applications for authorisation
  17. 13Particulars of directors
  18. 14Authorisation
  19. 15Requirements for authorisation
  20. 16Representations against refusal of authorisation
  21. 17Certificates
  22. Names
  23. 18Registrar’s approval of names
  24. 19Prohibition on certain names
  25. 20Registrar’s index of company names
  26. Alterations
  27. 21The Authority’s approval for certain changes in respect of a company
  28. 22Procedure when refusing approval of proposed changes
  29. Ending of authorisation
  30. 23Ending of authorisation
  31. 24Procedure
  32. Powers of intervention
  33. 25Directions
  34. 26Applications to the court
  35. 27Procedure on giving directions under regulation 25 and varying them on Authority’s own initiative
  36. 28Procedure: refusal to revoke or vary direction
  37. 29Procedure: revocation of direction and grant of request for variation
  38. Investigations
  39. 30Power to investigate
  40. Winding up
  41. 31Winding up by the court
  42. 32Dissolution on winding up by the court
  43. 33Dissolution in other circumstances
  44. Part III: CORPORATE CODE
  45. Organs
  46. 34Directors
  47. 35Directors to have regard to interests of employees
  48. 36Inspection of directors' service contracts
  49. 37General meetings
  50. 38Capacity of company
  51. 39Power of directors and general meeting to bind the company
  52. 40No duty to enquire as to capacity etc.
  53. 41Exclusion of deemed notice
  54. 42Restraint and ratification by shareholders
  55. 43Events affecting company status
  56. 44Invalidity of certain transactions involving directors
  57. Shares
  58. 45Shares
  59. 46Share certificates
  60. 47Exceptions from regulation 46
  61. 48Bearer shares
  62. 49Register of shareholders
  63. 50Power to close register
  64. 51Power of court to rectify register
  65. 52Share transfers
  66. Operation
  67. 53Power incidental to carrying on business
  68. 54Name to appear in correspondence etc.
  69. 55Particulars to appear in correspondence etc.
  70. 56Contracts
  71. 57Execution of documents
  72. 58Execution of deeds outside the United Kingdom
  73. 59Authentication of documents
  74. 60Official seal for share certificates
  75. 61Personal liability for contracts and deeds
  76. 62Exemptions from liability to be void
  77. 63Power of court to grant relief in certain cases
  78. 64Punishment for fraudulent trading
  79. 65Power to provide for employees on cessation or transfer of business
  80. Reports
  81. 66Reports: preparation
  82. 67Reports: accounts
  83. 68Reports: voluntary revision
  84. 69Auditors
  85. Mergers and divisions
  86. 70Mergers and divisions
  87. Part IV: THE AUTHORITY'S REGISTRATION FUNCTIONS
  88. 71Register of open-ended investment companies
  89. 72Companies' registered numbers
  90. 73Delivery of documents to the Authority
  91. 74Keeping of company records by the Authority
  92. 75Inspection etc. of records kept by the Authority
  93. 76Provision by the Authority of documents in non-legible form
  94. 77Public notice by the Authority of receipt and issue of certain documents
  95. 78Exclusion of deemed notice
  96. Part V: MISCELLANEOUS
  97. 79Contraventions
  98. 80Offences by bodies corporate etc.
  99. 81Jurisdiction and procedure in respect of offences
  100. 82Evidence of grant of probate etc.
  101. 83Minor and consequential amendments
  102. 84Revocation etc.
  103. Signature
  104. Schedule 1: DEPOSITARIES
  105. Appointment
  106. 1Paragraph 1
  107. 2Paragraph 2
  108. Retirement
  109. 3Paragraph 3
  110. Rights
  111. 4Paragraph 4
  112. Statement by depositary ceasing to hold office
  113. 5Paragraph 5
  114. 6Paragraph 6
  115. Schedule 2: INSTRUMENT OF INCORPORATION
  116. 1Paragraph 1
  117. 2Paragraph 2
  118. 3Paragraph 3
  119. 4Paragraph 4
  120. 5Paragraph 5
  121. 6Paragraph 6
  122. Schedule 3: REGISTER OF SHAREHOLDERS
  123. General
  124. 1Paragraph 1
  125. 2Paragraph 2
  126. 3Paragraph 3
  127. 4Paragraph 4
  128. Contents
  129. 5Paragraph 5
  130. 6Paragraph 6
  131. 7Paragraph 7
  132. 8Paragraph 8
  133. Location
  134. 9Paragraph 9
  135. Index
  136. 10Paragraph 10
  137. Inspection
  138. 11Paragraph 11
  139. Agent’s default
  140. 12Paragraph 12
  141. Schedule 4: SHARE TRANSFERS
  142. General
  143. 1Paragraph 1
  144. 2Paragraph 2
  145. Transfer of registered shares
  146. 3Paragraph 3
  147. 4Paragraph 4
  148. 5Paragraph 5
  149. 6Paragraph 6
  150. 7Paragraph 7
  151. Transfer of bearer shares
  152. 8Paragraph 8
  153. 9Paragraph 9
  154. Miscellaneous
  155. 10Paragraph 10
  156. 11Paragraph 11
  157. 12Paragraph 12
  158. Schedule 5: AUDITORS
  159. Eligibility
  160. 1Paragraph 1
  161. 2Paragraph 2
  162. 3Paragraph 3
  163. Appointment
  164. 4Paragraph 4
  165. 5Paragraph 5
  166. 6Paragraph 6
  167. 7Paragraph 7
  168. Rights
  169. 8Paragraph 8
  170. 9Paragraph 9
  171. Remuneration
  172. 10Paragraph 10
  173. 11Paragraph 11
  174. Removal
  175. 12Paragraph 12
  176. Rights on removal or non-reappointment
  177. 13Paragraph 13
  178. 14Paragraph 14
  179. Resignation
  180. 15Paragraph 15
  181. 16Paragraph 16
  182. 17Paragraph 17
  183. Statement by auditor ceasing to hold office
  184. 18Paragraph 18
  185. 19Paragraph 19
  186. 20Paragraph 20
  187. Schedule 6: MERGERS AND DIVISIONS
  188. 1Paragraph 1
  189. 2Paragraph 2
  190. 3Paragraph 3
  191. 4Paragraph 4
  192. 5Paragraph 5
  193. 6Paragraph 6
  194. Schedule 7: MINOR AND CONSEQUENTIAL AMENDMENTS
  195. Stock Transfer Act (Northern Ireland) 1963 (c. 24 (N.I.))
  196. 1Paragraph 1
  197. Companies (Northern Ireland) Order 1986 (S.I. 1986/1032 (N.I. 6))
  198. 2Paragraph 2
  199. 3Paragraph 3
  200. 4Paragraph 4
  201. 5Paragraph 5
  202. 6Paragraph 6
  203. Pension Schemes (Northern Ireland) Act 1993 (c. 49)
  204. 7Paragraph 7
  205. The Company Directors Disqualification (Northern Ireland) Order 2002(S.I. 2002/3150 (N.I.4))
  206. 8Paragraph 8
  207. Explanatory note