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

COLL Sch 6 Rules that can be waived

COLL Sch 6.1G

1. The rules in COLL can be waived by the FSA under sections 148 or 250 of the Act (Modification or waiver of rules) or regulation 7 of the OEIC Regulations (Modification or waiver of FSA rules), except COLL 3.2.8R (UCITS obligations) and COLL 6.9.9 (Restrictions of business for UCITS management companies).

COLL Sch 6.2G

2. Although the FSA has the formal power of waiver under the Act in relation to these rules, much of COLL implements the requirements of the UCITS Directive by ensuring that relevant authorised funds comply with such requirements. Accordingly, while formal power may exist to waive such UCITS Directive derived rules, the FSA's ability to do so is severely constrained.

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