PART III CORPORATE CODE
Organs
No duty to enquire as to capacity etc.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).