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Valid from 01/12/2001
50.—(1) Subject to paragraph (2), an open-ended investment company may, on giving notice by advertisement in a national newspaper circulating in all the countries in which shares in the company are sold, close the register of shareholders for any time or times not exceeding, in the whole, 30 days in each year.
(2) Paragraph (1) has effect—
(a)in the case of a company which is a participating issuer, subject to regulation 22 of the Uncertificated Securities Regulations 1995 M1 (consent of Operator of system required to close register) and to any requirements contained in FSA rules, in so far as such requirements are not inconsistent with that regulation; and
(b)in the case of any other company, subject to any requirements contained in FSA rules.
Marginal Citations
M1S.I. 1995/3272, amended by S.I. 1996/2827, S.I. 1997/251, S.I. 1999/506, S.I. 2000/311 and S.I. 2000/1682.