Part XVII Collective Investment Schemes

Chapter III Authorised Unit Trust Schemes

Powers of intervention

261BF1Information for feeder UCITS

1

The F2FCA 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 F2FCA 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 F2FCA;

c

any information reported to the F2FCA pursuant to rules of the F2FCA 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 F2FCA 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 F2FCA 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 F2FCA must immediately give that information to the home state regulator of each feeder UCITS established outside the United Kingdom.