Part XVII Collective Investment Schemes
Chapter V Recognised Overseas Schemes
Schemes constituted in other EEA States
264 Schemes constituted in other EEA States.
(1)
A collective investment scheme constituted in another EEA State is a recognised scheme if—
(a)
it satisfies such requirements as are prescribed for the purposes of this section;F1. . .
F2(b)
the home state regulator of the operator of the scheme has transmitted to the Authority notice of the operator's intention to invite persons in the United Kingdom to participate in the scheme; and
(c)
the notice from the home state regulator—
(i)
complies with the requirements of any directly applicable Community regulation or decision made under the UCITS directive, and
(ii)
is accompanied by such other information as may be prescribed.
(2)
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)
For the purposes of this section a collective investment scheme is constituted in another EEA State if—
(a)
it is constituted under the law of that State by a contract or under a trust and is managed by a body corporate incorporated under that law; or
(b)
it takes the form of an open-ended investment company incorporated under that law.
(6)
The operator of a recognised scheme may give written notice to the Authority that he desires the scheme to be no longer recognised by virtue of this section.
(7)
On the giving of notice under subsection (6), the scheme ceases to be a recognised scheme.