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Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations (Northern Ireland) 1997

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Inspection of directors' service contracts

30.—(1) Every investment company with variable capital shall keep at an appropriate place—

(a)in the case of each director whose contract of service with the company is in writing, a copy of that contract; and

(b)in the case of each director whose contract of service with the company is not in writing, a written memorandum setting out its terms.

(2) All copies and memoranda kept by a company in accordance with paragraph (1) shall be kept in the same place.

(3) The following are appropriate places for the purposes of paragraph (1)—

(a)the company’s head office;

(b)the place where the company’s register of shareholders is kept; and

(c)where any person designated in the company’s instrument of incorporation for the purposes of paragraph 4 of Schedule 5 is a director of the company and is a body corporate, the registered or principal office of that person.

(4) Every copy and memorandum required by paragraph (1) to be kept shall be open to the inspection of any shareholder of the company.

(5) If such an inspection is refused, the court may by order compel an immediate inspection of the copy or memorandum concerned.

(6) Every copy and memorandum required by paragraph (1) to be kept shall be made available by the company for inspection by any shareholder at the company’s annual general meeting.

(7) Paragraph (1) applies to a variation of a director’s contract of service as it applies to the contract.

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