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The Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996
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10. In Schedule 1 to the Company Directors Disqualification Act 1986(1) (matters for determining unfitness of directors), after paragraph 5 there shall be inserted the following paragraph—
“5A. In the application of this Part of this Schedule in relation to any person who is a director of an investment company with variable capital, any reference to a provision of the Companies Act shall be taken to be a reference to the corresponding provision of the Open-Ended Investment Companies (Investment Companies with Variable Capital) Regulations 1996 or of any regulations made under regulation 6 of those Regulations (SIB regulations).”.
(1)
Paragraph 5 of Schedule 1 was substituted by section 23 of, and paragraph 35 of Schedule 10 to, the Companies Act 1989 (c. 40).
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