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The Financial Services Act 1986 (Single Property Schemes) (Exemption) Regulations 1989
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- UK Statutory Instruments
- 1989 No. 28
- Regulation 10
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Corporate based schemes: requirements as to winding-up
10. The terms of a corporate based scheme must ensure that a majority representing at least 51% in number of the units in the scheme may, at a meeting of participants convened in accordance with the terms of the scheme at which votes may be cast in person or by proxy, require that the scheme be wound-up in the event of the disposal of the whole or substantially the whole of the property subject to the scheme.
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