Part XVII Collective Investment Schemes

C1Chapter II Restrictions on Promotion

Annotations:
Modifications etc. (not altering text)
C1

Pt. XVII Ch. II (ss. 238-241) modified (31.10.2001) by S.I. 2001/3347, Sch. para. 8

240 Restriction on approval of promotion.

1

An authorised person may not approve for the purposes of section 21 the content of a communication relating to a collective investment scheme if he would be prohibited by section 238(1) from effecting the communication himself or from causing it to be communicated.

2

For the purposes of determining in any case whether there has been a contravention of section 21(1), an approval given in contravention of subsection (1) is to be regarded as not having been given.