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The Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996
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- UK Statutory Instruments
- 1996 No. 2827
- PART III
- Organs
- Regulation 32
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Capacity of company
32.—(1) The validity of an act done by an investment company with variable capital shall not be called into question on the ground of lack of capacity by reason of anything in these Regulations, SIB regulations or the company’s instrument of incorporation.
(2) Nothing in paragraph (1) above shall affect the duty of the directors to observe any limitations on their powers.
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