Other permitted distributions by investment companies
2.—(1) Article 273 of the 1986 Order (other distributions by investment companies)(1) is amended as follows.
(2) In paragraph (1)(a), after “liabilities” insert “to creditors”.
(3) In paragraph (2)—
(a)after “liabilities” in both places where it occurs insert “to creditors”, and
(b)after “and any provision” insert “for liabilities to creditors”.
(1)
Article 273 was amended by section 212(2) of, and paragraph 34 of Schedule 16 to, the Financial Services Act 1986 (c. 60), article 57 of S.I. 2001/3649, regulation 2 of S.R. 2004 No. 22 and regulations 3 and 15 of, and paragraph 25 of Schedule 1 and paragraph 9 of Schedule 7 to, S.R. 2004 No. 496