http://www.legislation.gov.uk/uksi/2013/1388/regulation/1/made

The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013

en

King's Printer of Acts of Parliament

2016-07-12

FINANCIAL SERVICES AND MARKETS

These Regulations provide for the formation of undertakings for collective investment constituted in accordance with contract law. Such undertakings are called contractual schemes and are a new class of collective investment scheme (as defined by section 235 of the Financial Services and Markets Act 2000 (c.8) (“FSMA”). A contractual scheme may be either a co-ownership scheme, which has no legal personality distinct from the persons who take part as investors, or a partnership scheme, which is a limited partnership under the Limited Partnerships Act 1907 (c.24).