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The Common Investment Scheme 1991

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  1. Introductory Text

  2. 1.This Scheme may be cited as the Common Investment Scheme...

  3. 2.In this Scheme, unless the context otherwise requires— “accounting date”...

  4. 3.There shall continue to be three funds, known respectively as...

  5. 4.An investment manager appointed by the Lord Chancellor shall manageand...

  6. 5.(1) The investment manager shall administer the funds referred to...

  7. 6.Dividends payable on the Gross Income Fund shall, in so...

  8. 7.The provisions of Schedule 1 shall apply to each fund....

  9. 8.Schedule 2 shall have effect in relation to each fund....

  10. 9.It shall be the duty of the investment manager to...

  11. 10.The Common Investment Funds Scheme 1965 and the Common Investment...

  12. Signature

    1. SCHEDULE 1

      PROVISIONS APPLICABLE TO EACH FUND

      1. 1.(1) Each fund shall be treated as being divided into...

      2. 2.No document of title shall be issued in respect of...

      3. 3.(1) The following provisions of this paragraph shall have effect...

      4. 4.For the purpose of valuing the fund—

      5. 5.(1) The value of a unit on a valuation day...

      6. 6.As soon as may be after a valuation day the...

      7. 7.On each accounting date the investment manager shall determine the...

      8. 8.(1) The investment manager may determine, without regard to any...

    2. SCHEDULE 2

      ACCOUNTING AND DIVIDEND DATES

    3. SCHEDULE 3

      POWERS AND DUTIES OF THE INVESTMENT MANAGER IN RESPECT OF EACH FUND

      1. 1.The investment manager shall have the following powers—

      2. 2.The investment manager shall— (a) keep proper books of account...

      3. 3.On appointment, the investment manager shall take such steps as...

      4. 4.Where the appointment of an investment manager ceases he shall—...

  14. Explanatory Note

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