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    2024-08-02

COLL 11.1 Introduction

Application

COLL 11.1.1RRP

1This chapter applies to:

  1. (1)

    an authorised fund manager of an AUT, ACS2 or an ICVC;

  2. (2)

    any other director of an ICVC;

  3. (3)

    an ICVC; and

  4. (4)

    a depositary2 of an AUT, ACS or2 ICVC;

    2

where such AUT, ACS2 or ICVC is a UCITS scheme that is a feeder UCITS or a master UCITS in accordance with COLL 11.1.2 R (Table of application).

COLL 11.1.1AG

3It may be possible for a UCITS scheme to be the feeder UCITS of a master UCITS that is an EEA UCITS scheme. In such a case, the ability of the operator, AFM, depositary, and auditor of the feeder UCITS to comply with the applicable rules may depend upon whether appropriate agreements can be reached with the management company, depositary and auditor of the master UCITS. It is not possible for an EEA UCITS scheme to be a feeder of a master UCITS scheme.

Table of application

COLL 11.1.2RRP

This table belongs to COLL 11.1.1 R

Reference

ICVC

ACD

Any other directors of an ICVC

Authorised fund manager of an AUT or ACS2

2

Depositary of an ICVC, AUT or ACS2

2

11.1.1R

x

x

x

x

x

11.1.3G

x

x

x

x

x

11.2.1G

x

x

x

x

11.2.2R

x

x

x

x

11.3.1R

x

x

x

x

11.3.2R

x

x

x

x

11.3.3G

x

x

x

x

11.3.4G

x

x

x

x

11.3.5R

x

x

x

x

11.3.6R

x

x

x

x

11.3.7R

x

x

x

x

11.3.8R

x

x

x

x

11.3.9R

x

x

x

x

3

3

3

3

3

11.3.11R

x

x

x

x

11.3.12R

x

x

x

x

11.3.13R

x

x

x

x

11.3.14G

x

x

x

x

11.4.1R

x

x

x

x

x

11.4.2R

x

11.4.3R

x

11.4.4G

x

11.4.5G

x

11.5.6R

x

x

x

x

11.6.1G

x

x

x

x

x

11.6.2R

x

x

x

x

x

11.6.3R

x

x

x

x

11.6.4R

x

x

x

x

11.6.5R

x

x

x

x

11.6.6R

x

x

x

x

11.6.7R

x

x

x

x

11.6.8G

x

x

x

x

11.6.9R

x

x

x

x

11.6.10R

x

x

x

x

11.6.11G

x

x

x

x

11.6.12R

x

x

x

x

11.6.13R

x

x

x

x

11 Annex 1R

x

x

x

x

11 Annex 2R

x

x

x

x

Note 1: "x" means "applies", but not every paragraph in every provision referred to will necessarily apply.

Note 2: COLL 11.5 (with the exception of COLL 11.5.6 R) applies to auditors.

Purpose

COLL 11.1.3GRP
  1. (1)

    This chapter sets out:

    1. (a)

      the notification requirements for a UCITS scheme to be approved as a feeder UCITS under section 283A (Master-feeder structures) of the Act; and

    2. (b)

      the requirements which apply to a feeder UCITS where its master UCITS is wound up, merges with another UCITS or is divided into one or more UCITS.

  2. (2)

    This chapter also ensures there is a flow of information and documents between a feeder UCITS and its master UCITS. In particular, it allows the authorised fund manager, depositary and auditor of a feeder UCITS to obtain all information and documents necessary to perform their functions.

  3. (3)

    COLL 11.5 (Auditors) also imposes requirements on auditors of a master UCITS and a feeder UCITS.

  4. (4)

    In this section references to:

    1. (a)

      a UCITS scheme, a feeder UCITS, a master UCITS, or EEA UCITS scheme include the sub-fund of any such scheme and references to winding up a scheme are to be read as also applying to the termination of a sub-fund; and

    2. (b)

      the management company of an EEA UCITS scheme are to the operator of the scheme.