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CIS 6.1 Introduction


CIS 6.1.1R

This chapter applies in relation to ICVCs and AUTs

CIS 6.1.2R

This section (CIS 6.1) applies to authorised fund managers and depositaries.


CIS 6.1.3G

In line with the regulatory objective of the protection of consumers, this chapter sets out requirements for a register of Unitholders in an AUT and for plan registers of both ICVCs and AUTs. These requirements are intended to ensure that there is a proper record of the ownership of units, whether held directly or through a savings plan, ISA or PEP.

Explanation of this chapter

CIS 6.1.4G
  1. (1)

    CIS 6.2 deals with a number of matters concerning the register of Unitholders, such as its establishment, maintenance and rights of those who wish to inspect it, and the issue of certificates either of registration of ownership in that register or in bearer form.

  2. (2)

    CIS 6.3 deals with the transferability of units, whether by act of parties (for example sales or gifts) or by operation of law (death or bankruptcy).

  3. (3)

    CIS 6.4 deals with changes of name and address of Unitholders and sets out requirements for subdivision, consolidation and conversion of classes of units and default by Unitholders.

  4. (4)

    CIS 6.5 deals with plan registers of both ICVCs and AUTs.