setting out specific conditions for meetings of holders, in particular about convening of meetings, attendance, voting rights and quorums;
giving holders a right to convene a meeting in certain circumstances; and
providing conditions which must be satisfied if the instrument constituting the scheme is to be amended.
This chapter deals mainly with four subjects.
Requirements relating to meetings of holders (see CIS 11.2 and CIS 11.3). These rules are more detailed for a meeting of Unitholders of an AUT (CIS 11.3) than for a meeting of shareholders of an ICVC (CIS 11.2), where detailed procedures are left to be covered by the instrument of incorporation of the ICVC;
Requirements relating to the amendment of an instrument of incorporation of an ICVC or a trust deed of an AUT (see CIS 11.4). Changes to the prospectus that require approval of holders are covered by CIS 3.4.2 R (Changes to prospectus);
Requirements relating to amalgamations, reconstructions and other schemes of arrangement that may affect an authorised fund (see CIS 11.5). The conversion of an AUT to an ICVC comes within the meaning of a scheme of arrangement.
Requirements for the service of notices and other documents (see CIS 11.6). The Financial Services and Markets Act 2000 (Services of Notices) Regulations 2001 (SI 2001/1420) contain provisions relating to the service of documents. These do not apply to the service of documents under the rules in CIS owing to the specific rules in this chapter.