The Bearer Certificates (Collective Investment Schemes) Regulations 2020
1Citation, commencement and extent
2Bearer shares, and other bearer units, in collective investment schemes
3In the Open-Ended Investment Companies Regulations 2001, in regulation 48...
4Transitional provision
SCHEDULETRANSITIONAL PROVISION
PART 1CONVERSION AND CANCELLATION OF EXISTING BEARER SHARES IN OPEN-ENDED INVESTMENT COMPANIES ON OR BEFORE 1 JANUARY 2022
1(1) An open-ended investment company may convert or cancel bearer...
Meaning of “outstanding bearer share” and “the surrender year”
2In this Part— “outstanding bearer share” means a bearer share...
Right to convert bearer share to registered share
3(1) Sub-paragraphs (2) and (3) apply where, at a time...
Cancellation of bearer shares held by the designated person
4Where the bearer of any outstanding bearer shares is the...
Payment of dividends and other distributions during the surrender year
5(1) A dividend or other distribution paid in the surrender...
Cancellation of bearer shares still held at the end of the surrender year
6(1) Where a person is the bearer of an outstanding...
Notifications
7(1) This paragraph applies to an open-ended investment company if,...
PART 2CONVERSION AND CANCELLATION OF EXISTING BEARER UNITS IN OTHER COLLECTIVE INVESTMENT SCHEMES ON OR BEFORE 1 JANUARY 2022
8(1) The operator of a collective investment scheme which is...
General definitions
9In this Part— “the Gazette” means— as respects companies registered...
Right to convert bearer unit to registered unit
10(1) Subparagraphs (2) and (3) apply where, at a time...
Cancellation of bearer units held by the operator of the scheme
11Where the bearer of any outstanding bearer units is the...
Payment of dividends and other distributions during the surrender year
12(1) A dividend or other distribution paid in the surrender...
Cancellation of bearer units still held at the end of the surrender year
13(1) Where a person is the bearer of an outstanding...
Right to amend governing documents
14The operator of a scheme may amend any provision which...
Notifications
15(1) This paragraph applies to the operator of a scheme...

2020 No. 1346

Financial Services And Markets

The Bearer Certificates (Collective Investment Schemes) Regulations 2020

Made

Coming into force

The Treasury are a government department designated1 for the purposes of section 2(2) of the European Communities Act 19722 in relation to the prevention of money laundering and terrorist financing.

The Treasury make the following Regulations in exercise of the powers conferred by section 2(2) of that Act and by section 262 of the Financial Services and Markets Act 20003.

A draft of these Regulations has been approved by a resolution of each House of Parliament in accordance with paragraph 2(2) of Schedule 2 to the European Communities Act 1972 and section 429(2) of the Financial Services and Market Act 2000.