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Status: You are viewing the version of the handbook as on 2005-06-30.

CIS 14.1 Introduction

Application

CIS 14.1.1R

The rules and guidance in this chapter apply in accordance with CIS 14.1.4 R (Table of application)

Purpose

CIS 14.1.2G

This chapter helps with the regulatory objective of protecting consumers, by providing a cost effective and fair means of winding-up authorised funds and terminating sub-funds of ICVCs. ENF 17 deals with the FSA's powers to revoke the authorisation of authorised funds otherwise than by consent.

Explanation of this chapter

CIS 14.1.3G

CIS 14.2 deals with the winding-up of a solvent ICVC, which under regulation 21 of the OEIC regulations requires written notice to and consent from the FSA . CIS 14.3 deals with the termination of a solvent sub-fund of an ICVC, again under regulation 21. CIS 14.4 deals with the winding-up of an AUT. CIS 14.5 provides guidance on the information to be supplied to the FSA, in certain circumstances, when an authorised fund manager or depositary seek the FSA's consent to terminate an authorised fund.

CIS 14.1.4R

Table of application: This table belongs to CIS 14.1.1 R

Paragraph of Section No

ICVC

ACD

Any other directors of an ICVC

Depositary of an ICVC

Manager

Trustee

14.1

X

X

X

X

X

X

14.2.1-14.2.3

X

X

X

14.2.4

X

X

14.2.5

X

X

X

14.2.6

X

X

X

X

14.2.7

X

X

14.2.8

X

14.2.9

X

X

X

X

14.2.10

X

14.2.11

X

X

14.2.12(1)

X

X

14.2.12(2)

X

X

14.3.1-2

X

X

X

X

14.3.3

X

X

X

14.3.4

X

X

14.3.5

X

X

X

14.3.6

X

X

X

X

14.3.7

X

X

14.3.8

X

14.3.9

X

X

X

X

14.3.10

X

14.4.1-2

X

X

14.4.3

X

14.4.4

X

X

14.5

X

X

X

X

X

Note: "X" means "applies"