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CIS 3.2 Drawing up and availability of prospectus

Drawing up of prospectus

CIS 3.2.1R
  1. (1)

    A prospectus must contain the matters specified in CIS 3.5 (Information to be contained in the prospectus) and it must be drawn in English and published as a document up by the authorised fund manager and, in the case of an ICVC, approved by the directors.

  2. (2)

    A prospectus must not contain any other matter unless the inclusion of it is expressly contemplated in the rules in this sourcebook.

  3. (3)

    A revised prospectus is subject to this rule as if it were a new prospectus whether or not the revisions were required under CIS 3.4 (Revision of and changes to prospectus).2

Availability of prospectus

CIS 3.2.2R
  1. (1)

    An ICVC or the manager of an AUT must supply a copy of the prospectus drawn up in accordance with CIS 3.2.1 R (Drawing up of prospectus) free of charge:

    1. (a)

      to any person on request; and

    2. (b)

      to the FSA.

  2. (2)

    An ICVC which is a UCITS scheme, or the manager of an AUT which is a UCITS scheme:

    1. (a)

      must not market units in the territory of another EEA State unless a prospectus has been drawn up in an official language of that EEA State and, in the case of an ICVC, approved by the directors; and

    2. (b)

      must supply the prospectus to any purchaser of units free of charge on request.

  3. (3)

    An authorised fund manager must, upon the request of a holder in a UCITS scheme, provide information supplementary to the prospectus of that scheme relating to:

    1. (a)

      the quantitative limits applying in the risk management of that scheme;

    2. (b)

      the methods used in relation to (a); and

    3. (c)

      any recent development of the risk and yields of the main categories of investment.12