Investment Funds, Companies and Miscellaneous Provisions Act 2005
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Non-application of this Part to certain undertakings. |
7.—(1) The provisions of this Part shall not apply to an undertaking for collective investment in transferable securities (within the meaning of the UCITS Regulations) that is authorised— | |
(a) under the UCITS Regulations, or | ||
(b) by a competent authority in another Member State of the European Communities in accordance with Council Directive No. 85/611/EEC of 20 December 1985, as amended from time to time. | ||
(2) A common contractual fund shall not be subject to the provisions respecting— | ||
(a) a partnership under the Partnership Act 1890 , the Limited Partnerships Act 1907 or the Investment Limited Partnerships Act 1994 , or | ||
(b) a unit trust scheme under the Unit Trusts Act 1990 . |