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Status: You are viewing the version of the handbook as on 2009-03-31.

COLL 7.1 Introduction

Application

COLL 7.1.1RRP

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 7.1.2RRP

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 7.1.3GRP

  1. (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. (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