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There are currently no known outstanding effects for the The Open-Ended Investment Companies Regulations 2001, Paragraph 2.
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2. The statements referred to in paragraph 1(a) are—U.K.
(a)the head office of the company is situated [F1in England and Wales (or Wales), in Scotland or in Northern Ireland] (as the case may be);
(b)the company is an open-ended investment company with variable share capital;
[F2(ba)in the case of an umbrella company, the assets of a sub-fund belong exclusively to that sub-fund and shall not be used to discharge the liabilities of or claims against the umbrella company or any other person or body, or any other sub-fund, and shall not be available for any such purpose;]
(c)the shareholders are not liable for the debts of the company;
(d)the scheme property is entrusted to a depositary for safekeeping (subject to any exceptions permitted by [F3FCA rules]); and
(e)charges or expenses of the company may be taken out of the scheme property.
Textual Amendments
F1Words in Sch. 2 para. 2(a) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 1(2), Sch. 2 para. 30 (with Sch. 3)
F2Sch. 2 para. 2(ba) inserted (21.12.2011) by The Open-Ended Investment Companies (Amendment) Regulations 2011 (S.I. 2011/3049), regs. 1, 3(6) (with regs. 4-10)
F3Words in Regulations substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 41(2)
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