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Financial Services Act 1986 (Repealed)
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- UK Public General Acts
- 1986 c. 60
- SCHEDULE 15
- Authorised unit trust schemes
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Changes over time for: Cross Heading: Authorised unit trust schemes
Version Superseded: 01/12/2001
Alternative versions:
- 01/02/1991- Amendment
- 14/04/2000
Point in time - 01/12/2001- Amendment
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Financial Services Act 1986 (Repealed), Cross Heading: Authorised unit trust schemes is up to date with all changes known to be in force on or before 26 January 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Authorised unit trust schemesU.K.
9(1)Where an order under section 17 of the previous Act (authorisation of unit trust schemes) is in force in respect of a unit trust scheme immediately before the coming into force of Chapter VIII of Part I of this Act the scheme shall be treated as an authorised unit trust scheme under that Part and the order as an order under section 78 of this Act.
(2)In relation to any such authorised unit trust scheme the reference in section 79(1)(a) of this Act to the requirements for the making of the order shall be construed as a reference to the requirements for the making of an order under section 78, but the scheme shall not be regarded as failing to comply with those requirements by reason of the manager or trustee not being an authorised person if he is treated as such a person by virtue of paragraph 1 above.
(3)If before the day on which Chapter VIII of Part I comes into force a notice in respect of a scheme has been served under subsection (2) of section 17 of the previous Act (proposed revocation of authorisation of unit trust scheme) but the revocation has not taken place before that day, the provisions of that subsection shall continue to apply in relation to the scheme and sub-paragraph (1) above shall cease to apply to it if the authorisation is revoked under that subsection.
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