Part X Rules and Guidance

Chapter I Rule-making Powers

140 Restriction on managers of F1certain collective investment schemes.

F21

The Authority may make rules prohibiting an authorised person who has permission to act as—

a

the manager of an authorised unit trust scheme, or

b

the management company of an authorised UCITS open-ended investment company, from carrying on a specified activity.

2

Such rules may specify an activity which is not a regulated activity.

F33

In this section—

a

“authorised UCITS open-ended investment company” means an authorised open-ended investment company to which the UCITS directive applies; and

b

“management company” has the meaning given by Article 1a.2 of the UCITS directive.