[F1Managing [F2a UK UCITS]U.K.
51ZA.—(1) Managing [F3a UK UCITS] is a specified kind of activity.
[F4(2) A person manages a UK UCITS when the person carries on collective portfolio management of it.
(2A) In paragraph (2) “collective portfolio management” includes investment management, administration and marketing; and “administration” here means—
(a)legal and fund management accounting services;
(b)customer inquiries;
(c)valuation and pricing (including tax returns);
(d)regulatory compliance monitoring;
(e)maintenance of unit-holder register;
(f)distribution of income;
(g)unit issues and redemptions;
(h)contract settlements (including certificate dispatch);
(i)record keeping.”.]
(3) If a person manages [F5a UK UCITS] and also carries on other activities in connection with or for the purposes of the management of that UCITS, such other activities are also included in the activity specified in paragraph (1).]
Textual Amendments
F1Arts. 51ZA-51ZG substituted for arts. 51 and cross-heading (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(12)
F2Words in art. 51ZA heading substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 132(2) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3)); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in art. 51ZA(1) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 132(2) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3)); 2020 c. 1, Sch. 5 para. 1(1)
F4Art. 51ZA(2)(2A) substituted for art. 51ZA(2) (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 132(3) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3)); 2020 c. 1, Sch. 5 para. 1(1)
F5Words in art. 51ZA(3) substituted (31.12.2020) by The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/632), regs. 1(3), 132(4) (with savings in S.I. 2019/680, reg. 11 (as amended by S.I. 2019/1212, regs. 1(3), 22(3)); 2020 c. 1, Sch. 5 para. 1(1)