The Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 No. 325

PART 3 Amendments of the Undertakings for Collective Investment in Transferable Securities Regulations 2011

Reconstruction or amalgamation

35.—(1) Regulation 8 is amended as follows.

(2) In paragraph (1)(1), for the words from “involving” to the end substitute “which is a merger where the UK UCITS involved (or, if two or more are involved, at least one of them) has given notice to the Authority under paragraph 20B of Schedule 3 to the Act(2), and which takes the form of a merger by scheme of arrangement”.

(3) Omit paragraphs (2) and (3).

(4) In paragraph (4)—

(a) in sub-paragraph (a)—

(i) after “transferor” insert “UK”;

(ii) after “of a” insert “UK”;

(b) in sub-paragraph (b)—

(i) in paragraph (ii) after “existing” insert “UK”;

(ii) in paragraph (iii) after “a” insert “UK”.

(1)

Regulation 8(1) was amended by S.I. 2012/2015 and S.I. 2013/1388.

(2)

Paragraph 20B of Schedule 3 was inserted by S.I. 2011/1613; amended by Schedule 4 to the Financial Services Act 2012 and S.I. 2013/1773.