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COLL 2.1 Authorised fund applications

Application

COLL 2.1.1RRP

This chapter applies to any person seeking to arrange for the authorisation of a scheme.

Purpose

COLL 2.1.2GRP

This chapter helps in achieving the regulatory objective of protecting consumers by ensuring that any application for authorisation of a fund meets certain standards.

Explanation

COLL 2.1.3GRP
  1. (1)

    This chapter sets out the requirements that a person must follow in applying for an authorisation order for a scheme under regulation 12 of the OEIC Regulations (Applications for authorisation) or section 242 of the Act (Applications for authorisation of unit trust schemes).

  2. (2)

    COLLG 3 (The FSA's responsibilities under the Act) and COLLG 4 (The FSA's responsibilities under the OEIC Regulations) provide more information on what the Act and the OEIC Regulations require in relation to ongoing notifications to the FSA .

Specific requirements on application

COLL 2.1.4DRP

An application for an authorisation order in respect of an authorised fund must be:

  1. (1)

    in writing in the manner directed and contain the information required in the application form available from the FSA;

  2. (2)

    addressed for the attention of a member of FSA staff responsible for collective investment scheme authorisation matters; and

  3. (3)

    delivered to the FSA's address by one of the following methods:

    1. (a)

      posting; or

    2. (b)

      leaving it at the FSA's address and obtaining a time-stamped receipt; or

    3. (c)

      delivery by hand to a member of FSA staff responsible for collective investment scheme authorisation matters.

Application by an EEA UCITS management company to manage a UCITS scheme

COLL 2.1.5GRP

1An EEA UCITS management company that proposes to act as the manager of an AUT or the ACD of an ICVC that is a UCITS scheme, should be aware that it is required under paragraph 15A(1) of Schedule 3 to the Act to apply to the FSA for approval to do so. The form that the firm must use for this purpose is set out in SUP 13A Annex 3 R (EEA UCITS management companies: application for approval to manage a UCITS scheme established in the United Kingdom). In addition, those firms are required to provide to the FSA certain fund documentation, as specified by COLL 12.3.4 R (Provision of documentation to the FSA:EEA UCITS management companies).

[Note: article 20(1) of the UCITS Directive]