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The Open-Ended Investment Companies Regulations 2001

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This is the original version (as it was originally made).

4.—(1) The schemes falling within this paragraph are—

(a)any scheme under which the undertaking, property and liabilities of an open-ended investment company are to be transferred to another such company, other than one formed for the purpose of, or in connection with the scheme;

(b)any scheme under which the undertaking, property and liabilities of two or more bodies corporate, each of which is either—

(i)an open-ended investment company; or

(ii)a public company,

are to be transferred to an open-ended investment company formed for the purpose of, or in connection with, the scheme;

(c)any scheme under which the undertaking, property and liabilities of an open-ended investment company or a public company are to be divided among and transferred to two or more open-ended investment companies whether or not formed for the purpose of, or in connection with, the scheme.

(2) Nothing in this Schedule is to be taken as enabling the court to sanction a scheme under which the whole or any part of the undertaking, property or liabilities of an open-ended investment company may be transferred to any person other than another such company.

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