Related provisions for COLL 3.3.1

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COLL 6.2.2GRP
(1) This section helps in achieving the statutory objective of securing an appropriate degree of protection for consumers. In accordance with Principle 6, this section is also concerned with ensuring the authorised fund manager pays due regard to its clients' interests and treats them fairly.(2) An authorised fund manager of an AUT, ACS or ICVC7 is responsible for arranging for the issue and the cancellation of units for the authorised fund. An authorised fund manager of an AUT,
COLL 6.2.7RRP
(1) The authorised fund managermay require, on agreement with the depositary, or may permit, on the request of the investor, direct issues and cancellations of units by an ICVC or by the depositary of an AUT or ACS7.7(2) If (1) applies:(a) the instrument constituting the fund8 must provide for this; and(b) the prospectus must provide details of the procedure to be followed which must be consistent with the rules in this section.8
COLL 6.2.8RRP
(1) An authorised fund manager must ensure that at each valuation point there are at least as many units in issue of any class as there are units registered to unitholders for that class.(2) An authorised fund manager must not:(a) for an AUT or ACS7, when giving instructions to the depositary72 for the issue or cancellation of units; or27(b) for an ICVC, when arranging for the issue or cancellation of units;do, or omit to do, anything that2 would, or might, confer on itself2 or
COLL 6.2.13RRP
(1) The authorised fund manager must, by the close of business on the fourth business day following the issue of any units, arrange for payment to the depositary of an AUT or ACS7 or the ICVC of:227(a) 2in the case of a single-priced authorised fund, the price of the units and any payments required under 9COLL 6.3.8 R (Dilution); 10(b) 2in the case of a dual-priced authorised fund, the issue price of the units9; or10(c) in the case of a regulated money market fund, the sum required
COLL 6.2.14RRP
(1) On cancellingunits the authorised fund manager must, before the expiry of the fourth business day following the cancellation of the units or, if later, as soon as practicable after delivery to the depositary of the AUT or ACS7 or the ICVC of such evidence of title to the units as it may reasonably require, require the depositary to pay:27(a) 2in the case of a single-priced authorised fund, the price of the units (less any deduction required under 9COLL 6.3.8 R); 10(b) 2in
COLL 6.6.2RRP
This table belongs to COLL 6.6.1 R.RuleICVCACDAny other directors of an ICVCDepositary of an ICVCAuthorised fund manager of an AUT or ACS1010Depositary of an AUT or ACS10106.6.1Rxxxxxx6.6.3Rxxxxx106.6.3AR*x106.6.3BR*x6.6.4Rxx6.6.5Rxxxxx996.6.5AR*10xx1096.6.5BG*10xx106.6.6Rxx6.6.7Rxx6.6.8Rxx6.6.9Rxx6.6.10Rxxxx6.6.11Gxx6.6.12Rxx6.6.13Rxxxxx6.6.14Rxxxx6.6.15Rxxxx8x86.6.15AR*xx6.6.16Gxxxx6.6.17Rxxxxx6.6.18Gxxxxx8Notes:(1)“x” means “applies”, but not every paragraph in every rule will
COLL 6.6.3RRP
(1) The authorised fundmanager must manage the scheme in accordance with:(a) the instrument constituting the fund;1111(b) the 13applicable rules13;(c) the most recently published prospectus; 16(d) for an ICVC, the OEIC Regulations; and16(e) where applicable, the Money Market Funds Regulation.16(2) The authorised fund manager must take such steps as necessary to ensure compliance with the rules13that impose obligations upon the ICVC.(3) The authorised fund manager must:(a) make
COLL 6.6.13RRP
(1) The depositary must take all necessary steps to ensure that instructions given to it by the authorised fund manager for the exercise of rights attaching to the ownership of scheme property are carried out.(2) Where the scheme property of an authorised fund contains units in any other scheme managed or otherwise operated by the authorised fund manager10 of the AUT or ACS10 or, as the case may be, by any director of the ICVC or by any associate of either, the depositary must
COLL 6.6.15ARRP
(1) 8This rule applies to:(a) an authorised fund manager (other than an EEA UCITS management company) of an AUT, ACS10 or an ICVC where such AUT, ACS10 or ICVC is a UCITS scheme13;(aa) 13a small authorised UK AIFM that is the authorised fund manager of an AUT, ACS or an ICVC that is a non-UCITS retail scheme; and(b) a UK UCITS management company providing collective portfolio management services for an EEA UCITS scheme from a branch in another EEA State or under the freedom to
COLL 8.5.2RRP
(1) The authorised fund manager must manage the scheme in accordance with:(a) the instrument constituting the fund;1212(b) the16 applicable rules13; (c) the most recently published prospectus; 16(d) for an ICVC, the OEIC Regulations; and16(e) where applicable, the Money Market Funds Regulation.16(2) The authorised fund manager must carry out such functions as are necessary to ensure compliance with the rules13that impose obligations on the authorised fund manager or ICVC, as appropriate.(3)
COLL 8.5.10RRP
(1) The authorised fund manager must:(a) ensure that at each valuation point there are at least as many units in issue of any class as there are units registered to unitholders of that class; and(b) not do, or omit anything that would, or might confer on itself a benefit or advantage at the expense of a unitholder or potential unitholder.(2) For the purposes of (1) the authorised fund manager may take into account sales and redemptions after the valuation point, provided it has
COLL 5.2.1RRP
13(1) 13This section applies to an ICVC, an ACD, an authorised fund manager17 of an AUT or ACS and17 a depositary of an ICVC, AUT or ACS17 where such ICVC, AUT or ACS17 is a UCITS scheme, in accordance with COLL 5.2.2 R (Table of application).17171717(2) COLL 5.2.23C R (Valuation of OTC derivatives) also applies to a UK UCITS management company providing collective portfolio management services for an EEA UCITS scheme from a branch in another EEA State or under the freedom to
COLL 5.2.2RRP
This table belongs to COLL 5.2.1 R.RuleICVCACDAuthorised fund manager of an AUT or ACS1717Depositary of an ICVC, AUT or ACS17Authorised fund manager of an AUT or ACS, or ACD of an ICVC, that is a regulated money market fund23175.2.3R 23xxx2312235.2.4Rxx235.2.4AGx235.2.5R to 5.2.9Rxx125.2.9ARxx5.2.10R(1)xx5.2.10R(2)(a)&(b)xx5.2.10R(2)(c)x175.2.10R(3)xx5.2.10AR to 5.2.10EG7xx5.2.11R to 5.2.20R23 (excluding 5.2.17AR and 5.2.17BG)24xx5.2.17AR and 5.2.17BG24xxx235.2.20ARxxx235.2.20BGxx235.2.21Rxxx5.2.22Rxxx2313135.2.22AGxxxxx23175.2.23R(1)xxxx235.2.23R(2)
COLL 4.4.2RRP
(1) The authorised fund manager, the depositary or the other directors of an ICVC may convene a general meeting of unitholders at any time.(2) The unitholders may request the convening of a general meeting by a requisition which must:(a) state the objects of the meeting;(b) be dated;(c) be signed by unitholders who, at that date, are registered as the unitholders of units representing not less than one-tenth in value (or such lower proportion stated in the instrument constituting
COLL 4.4.11RRP
(1) A meeting of unitholders must have a chairman, nominated:11(a) in the case of an AUT or ACS3, by the depositary;313(b) in the case of an ICVC, by a director other than the ACD or an associate of the ACD or, if no such nomination is made, by the depositary.1(2) If the chairman is not present after a reasonable time from the time for the meeting, the unitholders present must choose one of them to be chairman.(3) The chairman:(a) may, with the consent of any meeting of unitholders
COLL 4.4.13RRP
(1) Any document or notice to be served on or information to be given to, any person, including the FCA , must be in legible form.(2) For the purposes of this rule, any form is legible form which:(a) is consistent with the ICVC's, the directors', the authorised fund manager's or the depositary's knowledge of how the recipient of the document wishes or expects to receive the document;(b) is capable of being provided in hard copy by the authorised fund manager, the depositary or
COLL 5.5.1RRP
(1) Subject to (2), this section applies to an ICVC, an ACD, an authorised fund manager of an AUT or ACS, and a depositary of an ICVC, AUT or ACS, where such ICVC, AUT or ACS is a UCITS scheme as set out in COLL 5.5.2R (Table of application).7(2) Other than COLL 5.5.3R and COLL 5.5.9R, this section does not apply to an ICVC, an ACD, an authorised fund manager of an AUT or ACS, or a depositary of an ICVC, AUT or ACS, where such ICVC, AUT or ACS is a regulated money market fund
COLL 5.5.2RRP
This table belongs to COLL 5.5.1 R.RuleICVCACDAuthorised fund manager of an AUT or ACS44Depositary of an ICVCDepositary of an AUT or ACS5.5.3Rxx5.5.4R(1) to (3)xx5.5.4R(4)&(5)xx5.5.4R(6)xx5.5.4R(7)xxxxx5.5.4R(8)x5.5.5R(1) to (3)xx15.5.6R(1)&(2)xxx5.5.6R(3)x5.5.7R(1)-(3)xxx5.5.7R(4)xxx5.5.8Rxxx5.5.9Rxxx5.5.10GxxxxxNote: x means "applies"
COLL 5.5.4RRP
(1) The ICVC or depositary of an AUT or ACS4 (on the instructions of the authorised fund manager4) may, in accordance with this rule and COLL 5.5.5 R (Borrowing limits), borrow money for the use of the authorised fund on terms that the borrowing is to be repayable out of the scheme property.44(2) Paragraph (1) is subject to the obligation of the authorised fund to comply with any restriction in the instrument constituting the fund.55(3) The ICVC or depositary of an AUT or ACS4
COLL 5.5.7RRP
(1) The scheme property of an authorised fund other than money must not be lent by way of deposit or otherwise.(2) Transactions permitted by COLL 5.4 (Stock lending) are not to be regarded as lending for the purposes of (1).(3) The scheme property must not be mortgaged.(4) Where transactions in derivatives or forward transactions are used for the account of the authorised fund in accordance with any of the rules in this chapter, nothing in this rule prevents the ICVC or the depositary
COLL 6.4.1RRP
(1) This section applies to an authorised fund manager and a depositary of an AUT or ACS.11(2) COLL 6.4.9 (Plan registers) also applies to the ACD, any other director and the depositary of an ICVC.
COLL 6.4.3GRP
(1) (a) 3This section deals with matters relating to the register of unitholders of units in an AUT or ACS including its establishment and contents.(b) 3The authorised fund manager or depositary may be responsible for the register.(c) 3In any event, the person responsible for the register must be stated in the trust deed or contractual scheme deed and this section details what his duties are.(d) 3The provisions relating to documents evidencing title to units3are dependent on the
COLL 6.5.2RRP
Table of application This table belongs to COLL 6.5.1 R.RuleICVCACDAny other director of an ICVCDepositary of an ICVCAuthorised fund manager of an AUT or ACS33Depositary of an AUT or ACS336.5.1Rxxxxxx6.5.3Rxxxx6.5.4Rxxx6.5.5Rxx6.5.6Rxx6.5.7Rxx6.5.8Rxx6.5.9Rxx6.5.10RxxxxNote: "x" means "applies", but not every paragraph in every rule will necessarily apply.
COLL 8.4.9RRP
(1) The ICVC, or the depositary at the request of the ICVC, or the depositary of an AUT or ACS9 at the request of the authorised fund manager,9 may enter into a repo contract or a 2stock lending arrangement within section 263B of the Taxation of Chargeable Gains Act 1992 (without extension by section 263C).99(2) The depositary must ensure that the value of any collateral, for the stock lending arrangement is at all times at least equal to the value of the securities transferred
COLL 8.4.10RRP
(1) The ICVC or depositary of an AUT or ACS9 (on the instructions of the authorised fund manager)9 may borrow money for the use of the authorised fund on terms that the borrowing is to be repayable out of the scheme property.99(2) The authorised fund manager must ensure that the authorised fund's borrowing does not, on any day, exceed 100 % of the net value of the scheme property and must take reasonable care to ensure that arrangements are in place that will enable borrowings
COLL 8.4.11RRP
(1) Any investment in land or a building held within the scheme property of a qualified investor scheme must be in an immovable within (2).(2) For an immovable :(a) it must be situated in a country or territory identified in the prospectus;(b) the authorised fund manager must have taken reasonable care to determine that the title to the interest in the immovable is a good marketable title; and(c) the authorised fund manager of an AUT or ACS9 or the ICVC must have received a report
COLL 4.5.7RRP
(1) An annual long report on an authorised fund, other than a scheme which is an umbrella, must contain:(a) the 3accounts for the annual accounting period which must be prepared in accordance with the requirements of the IMA SORP;(b) the report of the authorised fund manager in accordance with COLL 4.5.9 R (Authorised fund manager's report);(c) comparative information12 in accordance with COLL 4.5.10 R (Comparative information12);1212(d) the report of the depositary in accordance
COLL 7.7.1RRP
1This section applies to an ICVC, an authorised fund manager of an AUT, ACS3 or ICVC, any other director of an ICVC and the depositary of any such scheme where, in each case, the AUT, ACS3 or ICVC is a UCITS scheme that is a party to:(1) a domestic UCITS merger; or(2) a cross-border UCITS merger.
COLL 7.7.4RRP
A domestic UCITS merger between two or more UCITS schemes, or a cross-border UCITS merger between one or more UCITS schemes which is or are the merging UCITS and one or more EEA UCITS schemes, is permissible provided:(1) it is effected in accordance with the requirements of:(a) the UCITS Regulations 2011, which include the need for the FCA to have made a prior order approving the proposed merger (which may be made subject to (2)); and(b) this chapter; and (2) in the case of a
COLL 6.9.2GRP
(1) Regulation 15(8)(f) of the OEIC Regulations (Requirements for authorisation) requires independence between the depositary, the ICVC and the ICVC's directors, as does section 243(4) of the Act (Authorisation orders) for the trustee and manager of an AUT, and section 261D(4) of the Act (Authorisation orders) for the depositary and authorised fund manager of an ACS6. COLL 6.9.3 G to COLL 6.9.5 G give the6FCA's view of the meaning of independence of these relationships. An ICVC,
COLL 8.3.4RRP
This table belongs to COLL 8.3.2 R.1Document statusA statement that this document is the prospectus of the authorised fund valid as at a particular date which shall be the date of the document.2Description of the authorised fundInformation detailing:(1)the name of the authorised fund;16(1A)its FCA product reference number (PRN);(2)that the authorised fund is either an ICVC, ACS11 or an AUT;(3)that the scheme is a qualified investor scheme;(4)where relevant, that the unitholders
COLL 8.3.5ARRP
(1) An annual report, other than for a scheme which is an umbrella, must contain:(a) the accounts for the annual accounting period prepared in accordance with the requirements of the IMA SORP;7(b) the report of the authorised fund manager in accordance with COLL 8.3.5C R (Authorised fund manager's report);(bA) comparative information in accordance with COLL 4.5.10R (1A) and (2A) (Comparative information);14(c) the report of the depositary in accordance with COLL 8.3.5D R (Report
COLL 5.6.18RRP
(1) Any investment in land or a building held within the scheme property of a non-UCITS retail scheme must be an immovable within (2) to (5).(2) An immovable must:(a) be situated in a country or territory identified in the prospectus for the purpose of this rule; and(b) if situated in:(i) England and Wales or Northern Ireland, be a freehold or leasehold interest; or(ii) Scotland, be any interest or estate in or over land or heritable right including a long lease; or(c) if not
COLL 5.6.20RRP
(1) The following requirements apply in relation to the appointment of a valuer:(a) the authorised fund manager must ensure that any immovables in the scheme property are valued by an appropriate valuer (standing independent valuer) appointed by the authorised fund manager; and(b) the appointment must be made with the approval of the depositary at the outset and upon any vacancy.18(2) The standing independent valuer in (1) must be:(a) for an AUT or ACS18, independent of the authorised
COLL 3.2.1RRP
This section applies to:(1) an authorised fund manager of an AUT, ACS12 or ICVC;(2) any other director of an ICVC;(3) a depositary of an AUT, ACS12 or an ICVC;12(4) an ICVC; and12(5) a nominated partner;12except COLL 3.2.8 R(UCITS obligations), which applies only to an ICVC or to the authorised fund manager of an AUT or ACS where the ICVC, AUT or ACS is a UCITS scheme.1212
COLL 3.2.6RRP
This table belongs to COLL 3.2.4 R (Matters which must be included in the instrument constituting the fund14)14Name of scheme1A statement of:(1) the name of the authorised fund; and(2) whether the authorised fund is a UCITS scheme or a non-UCITS retail scheme.Investment powers in eligible markets2A statement that, subject to any restriction in the rules in this sourcebook or the instrument constituting the fund14, the scheme has the power to invest in any eligible securities market
COLL 4.3.6ARRP
(1) 3In the case of a UCITS scheme, the appointment of a new ACD of an ICVC under COLL 6.5.3 R (Appointment of an ACD) or the replacement of the authorised fund manager of an AUT or ACS5 who proposes to retire under COLL 6.5.8 R (Retirement of an authorised fund manager of an AUT or ACS)5 must, if in either case the new authorised fund manager is established in a different EEA State to the outgoing authorised fund manager, be treated as a significant change in accordance with
COLL 7.1.1RRP
(1) 2This chapter applies to an ICVC, an ACD, any other director of an ICVC, a depositary of an ICVC, an authorised fund manager3 of an AUT or ACS3 and a depositary3 of an AUT or ACS3, where such AUT, ACS3 or ICVC is a UCITS scheme or a non-UCITS retail scheme in accordance with COLL 7.1.2 R (Table of application).33(2) COLL 7.7 (UCITS mergers) applies only to a domestic UCITS merger or a cross-border UCITS merger.2
COLL 7.1.2RRP
This table belongs to COLL 7.1.1 R.RuleICVCACDAny other directors of an ICVCDepositary of an ICVC3Authorised fund manager of an AUT or ACS33Depositary of an AUT or ACS37.1.1xxxxxx7.1.3xxxxxx7.2.1xxxxx7.3.1xxxx7.3.2xxxx7.3.3xxx7.3.4xxx7.3.5xx7.3.6xxx7.3.7xxxx7.3.8xx7.3.9x7.3.10xxxx7.3.11x7.3.12xx7.3.13 (1)xx7.3.13 (2)xx7.4*3xx37.4A*xx7.5xxxxx7.6xxxxx227.7xxxxxx3Notes:(1)"x" means "applies", but not every paragraph in every rule will necessarily apply.(2)*COLL 7.4 does not apply
COLL 6.7.2RRP
Table of Application. This table belongs to COLL 6.7.1 R.RuleICVC88ACD88Depositary of an ICVC, AUT or ACS8Authorised fund manager of an AUT or ACS886.7.1R to 6.7.5Gxxxx86.7.6Gxxx6.7.7Rxx6.7.8Gxx6.7.9Rxx6.7.10Rxxx86.7.11Gxxx86.7.12Rxxx6.7.13Gxxx6.7.14Rx6.7.15Rxxxx86.7.16Gxxx86.7.17RxxxNote: "x" means "applies", but not every paragraph in every rule will necessarily apply.