Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

You are viewing the version of the document as on 2021-03-04.

COLL 7.1 Introduction

Application

COLL 7.1.1RRP
  1. (1)

    2This chapter applies to an ICVC, an ACD, any other director of an ICVC, a depositary of an ICVC, an authorised fund manager3 of an AUT or ACS3 and a depositary3 of an AUT or ACS3, where such AUT, ACS3 or ICVC is a UCITS scheme or a non-UCITS retail scheme in accordance with COLL 7.1.2 R (Table of application).

    33
  2. (2)

    COLL 7.7 (UCITS mergers) applies only to a domestic UCITS merger.4

    2

Table of application

COLL 7.1.2RRP

This table belongs to COLL 7.1.1 R.

Rule

ICVC

ACD

Any other directors of an ICVC

Depositary of an ICVC

3Authorised fund manager of an AUT or ACS

3

3Depositary of an AUT or ACS

3

7.1.1

x

x

x

x

x

x

7.1.3

x

x

x

x

x

x

57.2.-3*

x

x

x

x

57.2.-2*

x

x

x

x

57.2.-1*

x

x

x

x

7.2.1

x

x

x

x

x

7.3.1

x

x

x

x

7.3.2

x

x

x

x

7.3.3

x

x

x

7.3.4

x

x

x

7.3.5

x

x

7.3.6

x

x

x

7.3.7

x

x

x

x

7.3.8

x

x

7.3.9

x

7.3.10

x

x

x

x

7.3.11

x

7.3.12

x

x

7.3.13 (1)

x

x

7.3.13 (2)

x

x

7.4*3

x

x

37.4A*

x

x

7.5

x

x

x

x

x

7.6

x

x

x

x

x2

27.7

x

x

x

x

x

x

3Notes:

(1)

"x" means "applies", but not every paragraph in every rule will necessarily apply.

(2)

*COLL 7.4 does not apply to the authorised contractual scheme manager or depositary of an ACS.

(3)

*COLL 7.4A does not apply to the manager or depositary of an AUT.

5(4)

COLL 7.2.-3R to 7.2.-1R apply only to the authorised fund manager and depositary of a non-UCITS retail scheme.

Purpose

COLL 7.1.3GRP

  1. (1)

    This chapter helps to achieve the statutory objective of protecting investors by ensuring the authorised fund manager does not sell5 or redeem units at a price that cannot be calculated accurately. For instance, due to unforeseen circumstances, it may be impossible to value, or to dispose of and obtain payment for, all or some of the scheme property of an authorised fund or sub-fund. COLL 7.2.-3R, COLL 7.2.-2R, COLL 7.2.-1R, and5 COLL 7.2.1 R set5 out the circumstances in which an authorised fund manager must or may suspend dealings5 in units and the manner in which a suspension takes effect.

  2. (2)

    This chapter also helps with the statutory objective of protecting consumers, by providing a cost effective and fair means of winding up authorised funds and terminating sub-funds of ICVCs3, AUTs and co-ownership schemes3. EG 141(Collective investment schemes) deals with the FCA's powers to revoke the authorisation of authorised funds otherwise than by consent.

    31