Regulation 8 C1

United Kingdom

(1)

This Part applies to any reconstruction or amalgamation F1which is a merger where the UK UCITS involved (or, if two or more are involved, at least one of them) has given notice to the Authority under paragraph 20B of Schedule 3 to the Act, and which takes the form of a merger by scheme of arrangement.

F2(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

A “merger by scheme of arrangement” means an operation in which—

(a)

there are one or more transferor F3UK UCITS or sub-funds of a F4UK UCITS (“the merging UCITS”);

(b)

the transferor UCITS or sub-funds continue to exist until their liabilities have been discharged, but transfer their net assets to—

(i)

a sub-fund of the same UCITS;

(ii)

another existing F5UK UCITS or a sub-fund of that UCITS; or

(iii)

a F6UK UCITS formed for the purposes of the operation

(“the receiving UCITS”).

Annotations

Textual amendments

F1: Words in reg. 8(1) substituted (31.12.2020) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 35(2) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F2: Reg. 8(2)(3) omitted (31.12.2020) by virtue of The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 35(3) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F3: Word in reg. 8(4)(a) inserted (31.12.2020) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 35(4)(a)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F4: Word in reg. 8(4)(a) inserted (31.12.2020) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 35(4)(a)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F5: Word in reg. 8(4)(b)(ii) inserted (31.12.2020) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 35(4)(b)(i) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
F6: Word in reg. 8(4)(b)(iii) inserted (31.12.2020) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(2), 35(4)(b)(ii) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)

Modifications

C1: Pt. 4 modified (31.12.2020) by 2000 c. 8, s. 409(11)(i) (as inserted by The Financial Services (Gibraltar) (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/589), regs. 1(3), 2(5) (with reg. 12) (as amended by S.I. 2020/1274, regs. 1, 2); 2020 c. 1, Sch. 5 para. 1(1))