- Y Diweddaraf sydd Ar Gael (Diwygiedig)
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The Open-Ended Investment Companies Regulations 2001
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Point in time view as at 13/01/2020.
Changes to legislation:
There are currently no known outstanding effects for the The Open-Ended Investment Companies Regulations 2001, Section 57.
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Execution of documents: England and Wales [F1or Northern Ireland] U.K.
57.—(1) Under the law of England and Wales [F2or Northern Ireland] the following provisions have effect with respect to the execution of documents by an open-ended investment company.
(2) A document is executed by a company by the affixing of its common seal.
(3) A company need not have a common seal, however, and the following provisions of this regulation apply whether it does or not.
(4) A document that is signed by at least one director and expressed (in whatever form of words) to be executed by the company has the same effect as if executed under the common seal of the company.
(5) A document executed by a company which makes it clear on its face that it is intended by the person or persons making it to be a deed has effect, upon delivery, as a deed; and it is to be presumed, unless a contrary intention is proved, to be delivered upon its being executed.
(6) In favour of a purchaser, a document is deemed to have been duly executed by a company if it purports to be signed by at least one director or, in the case of a director which is a body corporate, it purports to be executed by that director; and, where it makes it clear on its face that it is intended by the person or persons making it to be a deed, it is deemed to have been delivered upon its being executed.
(7) In paragraph (6), “purchaser" means a purchaser in good faith for valuable consideration and includes a lessee, mortgagee or other person who for valuable consideration acquires an interest in property.
Textual Amendments
F1Words in reg. 57 heading inserted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 1(2), Sch. 2 para. 18 (with Sch. 3)
F2Words in reg. 57(1) inserted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 1(2), Sch. 2 para. 18 (with Sch. 3)
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