Notice of intention to market [F2a UCITS] U.K.
[F120B(1)The operator of a UCITS established in the United Kingdom may not exercise an EEA right to market the units of that UCITS in the territory of another EEA State unless the operator has given the [F3appropriate UK regulator], in the specified way, notice of its intention to market the units (“notice of intention”) which contains, and is accompanied by, such information as may be specified in rules, or in regulations made by the European Commission under the UCITS directive.
(2)The [F3appropriate UK regulator] must ensure that the information referred to in sub-paragraph (1) may be transmitted to it electronically.
(3)The [F3appropriate UK regulator] must verify whether the information submitted with the notice of intention is complete and, within 10 days of the date on which the [F3appropriate UK regulator] received the complete information required, send to the host state regulator—
(a)a copy of the notice of intention;
(b)the accompanying information; and
(c)confirmation that the operator and the UCITS fulfil the conditions imposed by the UCITS directive.
(4)The [F3appropriate UK regulator] must ensure that the host state regulator has electronic access to the information and documents referred to in sub-paragraph (3).
(5)The [F3appropriate UK regulator] must notify the operator immediately that the information referred to in sub-paragraph (3) has been sent to the competent authorities of the host state regulator.
(6)The operator may market the units of the UCITS in the territory of the host state regulator from the moment it receives the notification referred to in sub-paragraph (5).
(7)In this paragraph—
“operator” has the same meaning as in section 237 of this Act;
“specified” means specified in rules.]
Textual Amendments
F1Sch. 3 para. 20B inserted (1.7.2011) by The Undertakings for Collective Investment in Transferable Securities Regulations 2011 (S.I. 2011/1613), reg. 2(33)(m)
F2Words in Sch. 3 para. 20B heading inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 1 para. 34(13)
F3Words in Sch. 3 para. 20B substituted (27.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 4 para. 13 (with Sch. 20); S.I. 2013/423, arts. 2, 3, Sch.