Valid from 31/12/2020
Directions: unit trust schemesU.K.
This section has no associated Explanatory Memorandum
12. In section 257 M1 (directions), in subsection (1)(b)—
(a)in sub-paragraph (ii), for the words from “any” to “UCITS directive” substitute “ UCITS-related direct EU legislation; ”;
(b)in sub-paragraph (iii), after “that Regulation” insert “ which constitutes retained direct EU legislation ”.
Commencement Information
I1Reg. 12 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M1Section 257 was amended by paragraph 9 of Schedule 18 to the Financial Services Act 2012. Subsection (1)(b) was substituted by S.I. 2011/1613 and amended by S.I. 2018/698.