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FCA Handbook
COLL
COLL 7
COLL 7.1 Introduction

COLL 7.1 Introduction

Application

COLL 7.1.1R01/04/2004

This chapter applies to an ICVC, an ACD, any other director of a ICVC, a depositary of an ICVC, a manager of an AUT and a trustee of an AUT, where such AUT or ICVC is a UCITS scheme or a non-UCITS retail scheme in accordance with COLL 7.1.2 R (Table of application).

Table of application

COLL 7.1.2R01/04/2004

This table belongs to COLL 7.1.1 R.

Rule	ICVC	ACD	Any other directors of an ICVC	Depositary of an ICVC	Manager	Trustee
7.1.1	x	x	x	x	x	x
7.1.3	x	x	x	x	x	x
7.2.1	x	x		x	x	x
7.3.1	x	x	x	x
7.3.2	x	x	x	x
7.3.3	x	x	x
7.3.4	x	x	x
7.3.5		x	x
7.3.6	x	x	x
7.3.7	x	x	x	x
7.3.8		x	x
7.3.9		x
7.3.10	x	x	x	x
7.3.11		x
7.3.12	x	x
7.3.13 (1)		x	x
7.3.13 (2)			x	x
7.4					x	x
7.5		x	x	x	x	x
7.6		x	x	x	x	x
Note: x means "applies"

Purpose

COLL 7.1.3G28/08/2007

(1)
This chapter helps to achieve the regulatory objective of protecting investors by ensuring they do not buy or redeem units at a price that cannot be calculated accurately. For instance, due to unforeseen circumstances, it may be impossible to value, or to dispose of and obtain payment for, all or some of the scheme property of an authorised fund or sub-fund. COLL 7.2.1 R (Requirement) sets out the circumstances in which an authorised fund manager must or may suspend dealings in units and the manner in which a suspension takes effect.
(2)
This chapter also 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 and AUTs. EG 141(Collective investment schemes) deals with the FSA's powers to revoke the authorisation of authorised funds otherwise than by consent.
1