The Open-Ended Investment Companies Regulations 2001

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. Open-ended investment company

      2. 4. Registration by the Authority

      3. 5. Safekeeping of scheme property by depositary

      4. 6. FSA rules

      5. 7. Modification or waiver of FSA rules

      6. 8. Notices: general

      7. 9. Publication

      8. 10. The Authority’s procedures

      9. 11. The Tribunal

   2. Authorisation

      1. 12. Applications for authorisation

      2. 13. Particulars of directors

      3. 14. Authorisation

      4. 15. Requirement for authorisation

      5. 16. Representations against refusal of authorisation

      6. 17. Certificates

   3. Names

      1. 18. Registrar’s approval of names

      2. 19. Prohibition on certain names

      3. 20. Registrar’s index of company names

   4. Alterations

      1. 21. The Authority’s approval for certain changes in respect of a company

      2. 22. Procedure when refusing approval of proposed changes

   5. Ending of authorisation

      1. 23. Ending of authorisation

      2. 24. Procedure

   6. Powers of intervention

      1. 25. Directions

      2. 26. Applications to the court

      3. 27. Procedure on giving directions under regulation 25 and varying them on Authority’s own initiative

      4. 28. Procedure: refusal to revoke or vary direction

      5. 29. Procedure: revocation of direction and grant of request for variation

   7. Investigations

      1. 30. Power to investigate

   8. Winding up

      1. 31. Winding up by the court

      2. 32. Dissolution on winding up by the court

      3. 33. Dissolution in other circumstances

4. PART III CORPORATE CODE

   1. Organs

      1. 34. Directors

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

      3. 36. Inspection of directors' service contracts

      4. 37. General meetings

      5. 38. Capacity of company

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

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

      8. 41. Exclusion of deemed notice

      9. 42. Restraint and ratification by shareholders

      10. 43. Events affecting company status

      11. 44. Invalidity of certain transactions involving directors

   2. Shares

      1. 45. Shares

      2. 46. Share certificates

      3. 47. Exceptions from regulation 46

      4. 48. Bearer shares

      5. 49. Register of shareholders

      6. 50. Power to close register

      7. 51. Power of court to rectify register

      8. 52. Share transfers

   3. Operation

      1. 53. Power incidental to carrying on business

      2. 54. Name to appear in correspondence etc.

      3. 55. Particulars to appear in correspondence etc.

      4. 56. Contracts: England and Wales

      5. 57. Execution of documents: England and Wales

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

      7. 59. Authentication of documents: England and Wales

      8. 60. Official seal for share certificates

      9. 61. Personal liability for contracts and deeds

      10. 62. Exemptions from liability to be void

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

      12. 64. Punishment for fraudulent trading

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

   4. Reports

      1. 66. Reports: preparation

      2. 67. Reports: accounts

      3. 68. Reports: voluntary revision

      4. 69. Auditors

   5. Mergers and divisions

      1. 70. Mergers and divisions

5. PART IV THE AUTHORITY'S REGISTRATION FUNCTIONS

   1. 71. Register of open-ended investment companies

   2. 72. Companies' registered numbers

   3. 73. Delivery of documents to the Authority

   4. 74. Keeping of company records by the Authority

   5. 75. Inspection etc. of records kept by the Authority

   6. 76. Provision by the Authority of documents in non-legible form

   7. 77. Documents relating to Welsh open-ended investment companies

   8. 78. Public notice by the Authority of receipt and issue of certain documents

   9. 79. Exclusion of deemed notice

6. PART V MISCELLANEOUS

   1. 80. Contraventions

   2. 81. Offences by bodies corporate etc.

   3. 82. Jurisdiction and procedure in respect of offences

   4. 83. Evidence of grant of probate etc.

   5. 84. Minor and consequential amendments

   6. 85. Revocation etc.

7. Signature

8. SCHEDULES

   1. Schedule 1

      Depositaries

   2. Schedule 2

      Instrument of incorporation

   3. Schedule 3

      Register of shareholders

   4. Schedule 4

      Share transfers

   5. Schedule 5

      Auditors

   6. Schedule 6

      Mergers and divisions

   7. Schedule 7

      Minor and consequential amendments

9. Explanatory Note