Unit Trusts Act, 1990

• Permanent Page URL

Adaptation of certain provisions of UCITS Regulations.

15.—(1) Regulations 63, 75 to 83 and 99 to 105 of the UCITS Regulations shall apply to an authorised unit trust scheme as they apply to the bodies to which those Regulations relate subject to the following modifications and any other necessary modifications—

(a) a reference in those Regulations to a term or expression specified in the second column of the Table to this section at any reference number shall be construed, where the context admits, as a reference to the term or expression specified in the third column of the said Table at that reference number, and

(b) references to cognate terms or expressions in those Regulations shall be construed accordingly;

(c) references to—

(i) “the articles” and “the Directive” in those Regulations, and

(ii) the words “and the other information provided for in Annex B to these Regulations” in Regulation 77 and the first sentence of Regulation 78 of those Regulations,

shall be disregarded and the said Regulation 78 shall have effect as if there were inserted after “the figures”, “in the half-yearly report”; and

(d) Regulation 105 of those Regulations shall have effect as if there were inserted after “revokes or refuses to revoke an authorisation”, “or replaces a management company or trustee under a unit trust scheme”.

(2) In subsection (1) “authorised unit trust scheme” includes a scheme the authorisation of which stands revoked under Regulation 102 (as adapted by this section) of the UCITS Regulations.

TABLE