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The Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996
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12. In section 47A(4) of the 1986 Act(1) (disciplinary action which may be taken in respect of failure to comply with statements of principle) the word “or” at the end of paragraph (c) shall be omitted and after paragraph (d) there shall be inserted
“or
(e)the giving of a direction under regulation 18 of the Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996 (directions) or the making of an application for an order under regulation 20 of those Regulations (application to court to remove director or depositary);”.
(1)
Section 47A was inserted into the 1986 Act by section 192 of the Companies Act 1989 (c. 40).
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