27.—(1) Section 283A M1 (master-feeder structures) is amended as follows.
(2) In subsection (1), for the words from “rules made” to “directive” substitute “ rule 5.2.11(9) of the Collective Investment Schemes sourcebook ”.
(3) In subsection (3)(a)—
(a)for “that the UCITS” substitute “ that the UK UCITS ”;
(b)in sub-paragraph (i) for “Chapter VIII of the UCITS directive,” substitute “ the Chapter 8 provisions, ”.
(4) After subsection (3) insert—
“(3A) In subsection (3)(a)(i) “the Chapter 8 provisions” means—
(a)in relation to a UK UCITS or its operator, trustee or depositary, or auditor, any provision made by or under an enactment in implementation of Chapter 8 of the UCITS directive, and
(b)in relation to an EEA UCITS or its operator, Chapter 8 of the UCITS directive.”
Commencement Information
I1Reg. 27 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)
Marginal Citations
M1Section 283A was inserted by S.I. 2011/1613; amended by paragraph 9 of Schedule 18 to the Financial Services Act 2012 and by S.I. 2013/1388.