PART 4MERGERS

Interpretation7

1

In this Part—

  • “the Act” means the Financial Services and Markets Act 2000 M1;

  • “the Authority” means the F1Financial Conduct Authority;

  • “cross-border merger” means a merger of UCITS—

    1. a

      at least two of which are established in different EEA States; or

    2. b

      established in the same Member State into a newly constituted UCITS established in another EEA State;

  • “depositary” means—

    1. a

      in relation to a open-ended investment company means the person appointed under regulation 5 of the Open-Ended Investment Companies Regulations 2001;

    2. b

      in relation to an authorised unit trust scheme means the trustee of the scheme; and

    3. c

      includes the depositary of an EEA UCITS;

  • “domestic merger” means a merger between two or more UK UCITS where at least one of the UCITS involved has given notice to the Authority under paragraph 20B of Schedule 3 to the Act;

  • “EEA UCITS” is a UCITS which is established in an EEA State other than the United Kingdom;

  • “managers” means—

    1. a

      in relation to an open-ended investment company, the directors of that company,

    2. b

      in relation to an authorised unit trust scheme, the manager of that scheme,

    3. c

      in relation to an EEA UCITS, the management company of that UCITS or, if the EEA UCITS is an open ended investment company that has not designated a management company, the EEA UCITS;

  • “UCITS” means an undertaking for collective investment in transferable securities within the meaning of Article 1.2 of the UCITS directive, or a sub-fund of such an undertaking, and includes an open ended investment company, or an authorised unit trust to which the UCITS directive applies;

  • “UCITS directive” means directive means the Council Directive of 13th July 2009 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (No 2009/65/EC);

  • “UK UCITS” means a UCITS which is established in the United Kingdom;

  • “unit-holders” means—

    1. a

      in the case of an open-ended investment company, the shareholders or members of that UCITS;

    2. b

      in the case of an authorised unit trust scheme or an EEA UCITS, the unit-holders in that trust scheme or EEA UCITS;

  • “units” means—

    1. a

      in the case of an open-ended investment company, shares in the company;

    2. b

      in the case of an authorised unit trust scheme, units in the scheme; and

    3. c

      in the case of an EEA UCITS, units in the undertaking.

2

Subject to sub-paragraph (1), expressions used in this Part shall have the same meaning as in the Act.