This Statutory Instrument has been made in consequence of defects in S.I. 2011/1613 and is being issued free of charge to all known recipients of that Statutory Instrument.
Statutory Instruments
2012 No. 2015
Financial Services And Markets
The Undertakings for Collective Investment in Transferable Securities (Amendment) Regulations 2012
Made
27th July 2012
Laid before Parliament
2nd August 2012
Coming into force
24th August 2012
The Treasury are a government department designated( 1 ) for the purposes of section 2(2) of the European Communities Act 1972( 2 ) in relation to collective investment in transferable securities and other liquid assets, and to measures relating to investment firms and the provision of investment services.
The Treasury, in exercise of the powers conferred upon them by section 2(2) of the European Communities Act 1972, make the following Regulations:
Citation and commencement
1. These Regulations may be cited as the Undertakings for Collective Investment in Transferable Securities (Amendment) Regulations 2012 and come into force on 24th August 2012.
Amendments to the Financial Services and Markets Act 2000
2.The Financial Services and Markets Act 2000( 3 ) is amended as follows.
3. In subsection (3B) of section 199 (additional procedure for EEA firms in certain cases), omit “or (f)”.
4. In section 264 (schemes constituted in other EEA States), in subsection (5)—
(a) after “another EEA State” insert “(“the home state”)”;
(b) in paragraph (a)—
(i) for “that State” substitute “the home state”, and
(ii) for “that law” substitute “the law of any EEA State”; and
(c) in paragraph (b), for “that law” substitute “the law of the home state”.
Amendment to the Undertakings for Collective Investment in Transferable Securities Regulations 2011
5. In regulation 8(1) of the Undertakings for Collective Investment in Transferable Securities Regulations 2011( 4 ), for “merger by sub-fund” substitute “merger by scheme of arrangement”.
Angela Watkinson
James Duddridge
Two of the Lords Commissioners of Her Majesty’s Treasury
27th July 2012
1972 c.68 . Section 2(2) was amended by section 27(1)(a) of the Legislative and Regulatory Reform Act 2006 (c.51) and the European Union (Amendment) Act 2008 (c.7) , Schedule 1(1) , paragraph 1.
2000 c.8 . Relevant amendments to this Act were made by S.I. 2007/3253 , 2011/1613 .