Part XVII Collective Investment Schemes

Chapter III Authorised Unit Trust Schemes

Applications for authorisation

C1I1244 Determination of applications.

1

An application under section 242 must be determined by the Authority before the end of the period of six months beginning with the date on which it receives the completed application.

2

The Authority may determine an incomplete application if it considers it appropriate to do so; and it must in any event determine such an application within twelve months beginning with the date on which it first receives the application.

3

The applicant may withdraw his application, by giving the Authority written notice, at any time before the Authority determines it.