No duty to enquire as to capacity etc.U.K.
40. Subject to regulation 39(4)(b)(ii), a party to a transaction with an open-ended investment company is not bound to enquire—
(a)as to whether the transaction is permitted by these Regulations, FSA rules or the company’s instrument of incorporation; or
(b)as to any limitation on the powers referred to in regulation 39(1)(a) or (b).