Part XVII Collective Investment Schemes
Chapter III Authorised Unit Trust Schemes
Applications for authorisation
242 Applications for authorisation of unit trust schemes.
F1(1)
The manager and trustee, or proposed manager and trustee, of a unit trust scheme may apply to the FCA for—
(a)
an order declaring the scheme to be an authorised unit trust scheme;
(b)
an order declaring the scheme to be an authorised money market fund.
(2)
The manager and trustee (or proposed manager and trustee) must be different persons.
(3)
F2An application —
(a)
must be made in such manner as the F3FCA may direct; and
(b)
must contain or be accompanied by such information as the F3FCA may reasonably require for the purpose of determining the application.
(4)
At any time after receiving an application and before determining it, the F3FCA may require the applicants to provide it with such further information as it reasonably considers necessary to enable it to determine the application.
(5)
Different directions may be given, and different requirements imposed, in relation to different applications.