The Open-Ended Investment Companies Regulations 2001

3.—(1) The instrument of incorporation must contain provision as to the following matters—U.K.

(a)the object of the company;

(b)any matter relating to the procedure for the appointment, retirement and removal of any director of the company for which provision is not made in these Regulations or [F1FCA rules]; and

(c)the currency in which the accounts of the company are to be prepared.

(2) The provision referred to in sub-paragraph (1)(a) as to the object of an open-ended investment company must state clearly the kind of property in which the company is to invest and must state that the object of the company is to invest in property of that kind with the aim of spreading investment risk and giving its shareholders the benefit of the results of the management of that property.

Textual Amendments