CIS TP 1 Transitional Provisions

1

CIS

R

Expired9

2

CIS 2

R

Expired9

3

CIS

R

Expired9

4

CIS 2

R

Expired9

5

CIS 11.4.4 R

R

No revision of aninstrument constituting the scheme required solely as a result, or as a direct consequence, of the application of the rules in CIS requires any resolution of theholders.

Commencement

Commencement

6

CIS 2.2.2 R (6)

R

Expired9

7

CIS 5.2.10 R (2)

R

Expired91

8

CIS 5.4.4R (5)

R

Expired9

9

CIS 9.2.7 G

G

Expired9

10

CIS 10.3andCIS 10.4

R

Expired9

11

CIS

G

Expired9

12

CIS 3.5.2 R(18)

R

Expired92

13

CIS 7.3.3 R (2)

CIS 7.3.3 R (3)

CIS 7.8.3 R (4)

R

The retention period of 6 years does not apply to records that, as at 1 August 2002, had not been retained.2

From 1 August 2002 until 31 July 2008

1 August 2002

13A4

CIS 3.5.2 R(19)

R

Expired9

14

CIS 3.2.2 R (3) and CIS 3.5.2 R(10-14) and CIS 5 and CIS 10.4.2 R (16)

R

(1) A UCITS scheme for which there was anauthorisation order in force on or prior to 13 February 2002 may continue to operate under the rules inCIS generally (excepting those to which this provision applies) until 12 February 2007. After that date it must have revised its structure and relevant prospectus and report and accounts in accordance with the rules to which this provision applies and disregard the rules in CIS 5A. All the other rules in CIS will then apply.3

from 1/11/02 until 12/02/07

1/11/02

(2) Expired9

15

G

A UCITS scheme may convert at any time within the limits in Transitional provision 14 (1) and 14 (2) as appropriate to operate under the investment rules in CIS 5, but having done so it may not revert to operating under the rules inCIS 5A. On conversion all the rules in CIS save CIS 5A will then apply to a converted scheme4

from 1/11/02 until 12/02/07

1/11/02

16

CIS 2.2.6 R (2)(a)(i), CIS 2.2.6 R (2)(a)(ii), CIS 2.2.6 R (2)(a)(iii), CIS 2.2.6 R (2)(a)(iv) and CIS 3.5.2 R(2)(3)

R

In relation to an authorised fund (which is a securities scheme, warrant scheme, money market scheme, futures and options scheme, fund of funds scheme or an umbrella scheme) in existence the day before 1 November 2002 where this scheme will fall within the newUCITS scheme type within CIS 5 the category of the scheme as stated in the instrument constituting the scheme will be deemed amended to the newscheme type until any subsequent revision of such documentation.4

from 1/11/02 until date of revision

1/11/02

17

CIS 2.2.2 R

CIS 2.2.6 R

CIS 2.2.7 G

R

A scheme which has anauthorisation order in force before 12 February 2004, which is to switch from operating under CIS 5A toCIS 5 and whoseinstrument constituting the scheme refers to the efficient portfolio management rule in CIS 5A.13 (either generally or specifically), may deem the rules in CIS 5A.13 to continue to apply until theinstrument constituting the scheme is amended for any other reason.4

from 1/11/02 until date of revision

1/11/02

18

CIS 5A.13

R

An authorised fund manager may use efficient portfolio management techniques in relation to ascheme provided that this use of derivatives is disclosed in the most recently publishedprospectus.4

from 1/11/02 until revoked by the FSA.

19

CIS 3.4.2 R (2)(d) and CIS 3.5.2 R(13)(2), (3)

R

The requirement to state maximum remuneration in the prospectus does not apply until the prospectus is first amended following 1 November 2002. The insertion of this maximum level of remuneration in the prospectus for the first time will not require a resolution ofholders.4

1/11/02

1/11/02

20

CIS 16.5.1 R (4) to CIS 16.5.1 R (6)

R

A UCITS management company may not carry on any of the activities specified in CIS 16.5.1 R (4) to CIS 16.5.1 R (6) unless it is a UCITS investment firm:

(a) whose permission to carry on any such activity was given before 13 February 2004; or

(b) which complies with the relevant provisions of the Prudential sourcebook for banks, building societies and investment firms.105

From 13 February 2004 to 12 February 2007

13 February 2004

21

CIS 16.5.1 R (4) to CIS 16.5.1 R (6)

G

A UCITS investment firm11 will not be able to act as such and exercise an EEA right under the UCITS Directive unless it complies with the Prudential sourcebook for UCITS Firms10 until 31 December 2006 and BIPRU from the 1st January 2007.11

22

CIS 7.6.1 R (2), CIS 7.6.1 R (4) and CIS 7.6.1 R (5)

CIS 7.10.4 R (1), CIS 7.10.4 R (5) and CIS 7.10.4 R (6)

R

(1) Subject to (2), in relation to a UCITS management companywhich became authorised before 13 February 2004,CIS 7.6.1 R (2), CIS 7.6.1 R (4) and CIS 7.6.1 R (5) and CIS 7.10.4 R (1), CIS 7.10.4 R (5) and CIS 7.10.4 R (6) have effect as they applied before 12 February 2004.

(2) Paragraph (1) does not apply in relation to any UK firm which exercises an EEA right under the UCITS Directive57

From 13 February 2004 to 12 February 2007

13 February 2004

23

CIS 10.1.4 G (2), CIS 10.3.3 R (1)(a), CIS 10.3.4 R (1)(a), CIS 10.3.6 R (3), CIS 10.4.8 R (1), and CIS 10.4.9 R (2)(a)

R9

Expired9