Financial Services and Markets Act 2000

[F1 261B Information for feeder UCITS U.K.

(1) The [F2 FCA] must immediately inform the operator of any authorised unit trust scheme which is a feeder UCITS of an authorised unit trust scheme [F3 , an authorised contractual scheme] or an authorised open-ended investment company (the master UCITS) of—

(a) any failure of which the [F2 FCA] becomes aware by the master UCITS to comply with a provision made in implementation of Chapter VIII of the UCITS directive;

(b) any warning notice or decision notice given to the master UCITS in relation to a contravention of any provision made in implementation of Chapter VIII of the UCITS directive by or under any enactment or in rules of the [F2 FCA];

(c) any information reported to the [F2 FCA] pursuant to rules of the [F2 FCA] made to implement Article 106(1) of the UCITS directive which relates to the master UCITS, or to one or more of its directors, or its management company, trustee, depositary or auditor.

(2) The [F2 FCA] must immediately inform the operator of any authorised unit trust scheme which is a feeder UCITS of an EEAUCITS of any information received from the home state regulator of the EEAUCITS in relation to—

(a) any failure by the EEAUCITS to comply with any requirement in Chapter VIII of the UCITS directive;

(b) any decision or measure imposed on the EEAUCITS under provisions implementing Chapter VIII of the UCITS directive;

(c) any information reported to the home state regulator pursuant to Article 106(1) of the UCITS directive relating to the EEAUCITS, its operator, depositary or auditor.

(3) Where the [F2 FCA] has the information described in subsection (1)(a), (b) or (c) in relation to an authorised unit trust scheme which is a master UCITS for one or more feeder UCITS which are EEAUCITS, the [F2 FCA] must immediately give that information to the home state regulator of each feeder UCITS established outside the United Kingdom.]

Textual Amendments

F1 Ss. 261A, 261B inserted (1.7.2011) by The Undertakings for Collective Investment in Transferable Securities Regulations 2011 (S.I. 2011/1613), reg. 2(23)

F2 Word in ss. 254-262 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 9(1)(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F3 Words in s. 261B(1) inserted (6.6.2013) by The Collective Investment in Transferable Securities (Contractual Scheme) Regulations 2013 (S.I. 2013/1388), regs. 1, 3(11) (with reg. 24)