Part XVII

Collective Investment Schemes
CHAPTER
3A

AUTHORISED CONTRACTUAL SCHEMES

Applications for authorisation

Applications for authorisation of contractual schemes
261C
1
The operator and depositary, or proposed operator and depositary, of a contractual scheme may apply to the FCA for—
a
an order declaring the scheme to be an authorised contractual scheme;
b
an order declaring the scheme to be an authorised money market fund.
2
An application under subsection (1)(a)—
a
must be made in such manner as the
FCA
may direct;
b
must state the name and the registered office, or if it does not have a registered office, the head office, of the operator or proposed operator and of the depositary or proposed depositary; and
c
in the case of a partnership scheme, must be accompanied by a copy of the certificate of registration as a limited partnership under the Limited Partnerships Act 1907.
2A
An application under subsection (1)(b) must—
a
be made in such a manner as the FCA may direct, and
b
contain or be accompanied by such information as the FCA may reasonably require for the purpose of determining the application.
3
At any time after receiving an application and before determining it, the
FCA
may require the applicants to provide it with such further information as it reasonably considers necessary to enable it to determine the application.
4
Different directions may be given, and different requirements imposed, in relation to different applications.
5
The
FCA
may require applicants to present information which they are required to give under this section in such form, or to verify it in such a way, as the
FCA
may direct.
Pt. 17 modified (20.2.2019) by The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/325), regs. 1(3), 62 (as amended (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 12(b))
Words in s. 261C(2) substituted (28.6.2018 for specified purposes, 21.7.2018 in so far as not already in force) by The Money Market Funds Regulations 2018 (S.I. 2018/698), regs. 1(2), 2(10)(b)
S. 261C(1) substituted (28.6.2018 for specified purposes, 21.7.2018 in so far as not already in force) by The Money Market Funds Regulations 2018 (S.I. 2018/698), regs. 1(2), 2(10)(a)
S. 261C(2A) inserted (28.6.2018 for specified purposes, 21.7.2018 in so far as not already in force) by The Money Market Funds Regulations 2018 (S.I. 2018/698), regs. 1(2), 2(10)(c)
Pt. 17 Ch. 3A inserted (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), regs. 1, 3(12) (with reg. 24)