PART 2Amendments of the Financial Services and Markets Act 2000
Master-feeder structuresI127
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.