Master-feeder structures
27.—(1) Section 283A(1) (master-feeder structures) is amended as follows.
(2) In subsection (1), for the words from “rules made” to “directive” substitute “rule 5.2.11(9) of the Collective Investment Schemes sourcebook”.
(3) In subsection (3)(a)—
(a)for “that the UCITS” substitute “that the UK UCITS”;
(b)in sub-paragraph (i) for “Chapter VIII of the UCITS directive,” substitute “the Chapter 8 provisions,”.
(4) After subsection (3) insert—
“(3A) In subsection (3)(a)(i) “the Chapter 8 provisions” means—
(a)in relation to a UK UCITS or its operator, trustee or depositary, or auditor, any provision made by or under an enactment in implementation of Chapter 8 of the UCITS directive, and
(b)in relation to an EEA UCITS or its operator, Chapter 8 of the UCITS directive.”
Section 283A was inserted by S.I. 2011/1613; amended by paragraph 9 of Schedule 18 to the Financial Services Act 2012 and by S.I. 2013/1388.