The Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996

1. Introductory Text

2. PART I GENERAL

   1. 1. Citation, commencement and extent

   2. 2. Interpretation

3. PART II FORMATION, SUPERVISION AND CONTROL

   1. General

      1. 3. Investment company with variable capital

      2. 4. Registration by registrar of companies

      3. 5. Safekeeping of scheme property by depositary

      4. 6. SIB regulations

   2. Authorisation

      1. 7. Applications for authorisation

      2. 8. Particulars of directors

      3. 9. Authorisation

      4. 10. Criteria for authorisation

      5. 11. Representations against refusal of authorisation

      6. 12. UCITS certificate

   3. Registrar’s approval of names

      1. 13. Registrar’s approval of names

      2. 14. Prohibition on certain names

   4. Alterations

      1. 15. SIB approval for certain changes in respect of company

   5. Intervention

      1. 16. Revocation of authorisation

      2. 17. Representations against revocation

      3. 18. Directions

      4. 19. Notice of directions

      5. 20. Applications to the court

   6. Investigations

      1. 21. Investigations: functions of Secretary of State and SIB

      2. 22. Investigations: powers and duties of inspectors

      3. 23. Investigations: disclosure

      4. 24. Investigations: supplementary

   7. Winding up

      1. 25. Winding up by the court

      2. 26. Dissolution on winding up by the court

      3. 27. Dissolution in other circumstances

4. PART III CORPORATE CODE

   1. Organs

      1. 28. Directors

      2. 29. Directors to have regard to interests of employees

      3. 30. Inspection of directors' service contracts

      4. 31. General meetings

      5. 32. Capacity of company

      6. 33. Power of directors and general meeting to bind the company

      7. 34. No duty to enquire as to capacity etc

      8. 35. Exclusion of deemed notice

      9. 36. Restraint and ratification by shareholders

      10. 37. Events affecting company status

      11. 38. Invalidity of certain transactions involving directors

   2. Shares

      1. 39. Shares

      2. 40. Share certificates

      3. 41. Exceptions from regulation 40

      4. 42. Bearer shares

      5. 43. Register of shareholders

      6. 44. Power to close register

      7. 45. Power of court to rectify register

      8. 46. Share transfers

   3. Operation

      1. 47. Power incidental to carrying on business

      2. 48. Name to appear in correspondence etc

      3. 49. Particulars to appear in correspondence etc

      4. 50. Contracts: England and Wales

      5. 51. Execution of documents: England and Wales

      6. 52. Execution of deeds overseas: England and Wales

      7. 53. Authentication of documents: England and Wales

      8. 54. Official seal for share certificates

      9. 55. Personal liability for contracts and deeds

      10. 56. Exemptions from liability to be void

      11. 57. Power of court to grant relief in certain cases

      12. 58. Punishment for fraudulent trading

      13. 59. Power to provide for employees on cessation or transfer of business

   4. Reports

      1. 60. Reports: preparation

      2. 61. Reports: accounts

      3. 62. Reports: voluntary revision

      4. 63. Auditors

   5. Mergers and divisions

      1. 64. Mergers and divisions

5. PART IV MISCELLANEOUS

   1. 65. Notifications to registrar of companies

   2. 66. Contraventions

   3. 67. Prosecutions

   4. 68. Offences: bodies corporate, partnerships and unincorporated associations

   5. 69. Time limits for prosecution of offences

   6. 70. Jurisdiction and procedure in respect of offences

   7. 71. Service of documents

   8. 72. Evidence of grant of probate etc

   9. 73. SIB’s functions under the Regulations

   10. 74. Fees

   11. 75. Minor and consequential amendments

6. Signature

7. SCHEDULES

   1. Schedule 1

      Application of Part XXIV of the 1985 Act.

   2. Schedule 2

      Depositaries.

   3. Schedule 3

      Instrument of incorporation.

   4. Schedule 4

      Register of shareholders.

   5. Schedule 5

      Share transfers.

   6. Schedule 6

      Auditors.

   7. Schedule 7

      Mergers and divisions.

   8. Schedule 8

      Minor and consequential amendments.

8. Explanatory Note