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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

You are viewing the version of the document as on 2012-12-13.

Status: In this content, we have included all amendments made by EU exit-related instruments up to end September 2020. There will be more amendments to be made later this year, further to the September QCP.

COLL 2.1 Authorised fund applications

Application

COLL 2.1.1RRP

This chapter applies to any person seeking to arrange for the authorisation of a scheme.

Purpose

COLL 2.1.2GRP

This chapter helps in achieving the regulatory objective of protecting consumers by ensuring that any application for authorisation of a fund meets certain standards.

Explanation

COLL 2.1.3GRP
  1. (1)

    This chapter sets out the requirements that a person must follow in applying for an authorisation order for a scheme under regulation 12 of the OEIC Regulations (Applications for authorisation) or section 242 of the Act (Applications for authorisation of unit trust schemes).

  2. (2)

    COLLG 3 (The FSA's responsibilities under the Act) and COLLG 4 (The FSA's responsibilities under the OEIC Regulations) provide more information on what the Act and the OEIC Regulations require in relation to ongoing notifications to the FSA .

Specific requirements on application

COLL 2.1.4DRP

An application for an authorisation order in respect of an authorised fund must be:

  1. (1)

    in writing in the manner directed and contain the information required in the application form available from the FSA;

  2. (2)

    addressed for the attention of a member of FSA staff responsible for collective investment scheme authorisation matters; and

  3. (3)

    delivered to the FSA's address by one of the following methods:

    1. (a)

      posting; or

    2. (b)

      leaving it at the FSA's address and obtaining a time-stamped receipt; or

    3. (c)

      delivery by hand to a member of FSA staff responsible for collective investment scheme authorisation matters.

Application by an EEA UCITS management company to manage a UCITS scheme

COLL 2.1.5GRP

1An EEA UCITS management company that proposes to act as the manager of an AUT or the ACD of an ICVC that is a UCITS scheme, should be aware that it is required under paragraph 15A(1) of Schedule 3 to the Act to apply to the FSA for approval to do so. The form that the firm must use for this purpose is set out in SUP 13A Annex 3 R (EEA UCITS management companies: application for approval to manage a UCITS scheme established in the United Kingdom). In addition, those firms are required to provide to the FSA certain fund documentation, as specified by COLL 12.3.4 R (Provision of documentation to the FSA:EEA UCITS management companies).

[Note: article 20(1) of the UCITS Directive]