The Open-Ended Investment Companies Regulations 2001

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, [F1 FCA 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).

Textual Amendments

F1 Words in Regulations substituted (1.4.2013) by The Financial Services Act 2012 (Consequential Amendments and Transitional Provisions) Order 2013 (S.I. 2013/472), Sch. 2 para. 41(2)