COLL TP 1 Transitional Provisions

Extra time provisions

Existing schemes electing to comply with COLL

1

[deleted]8

[deleted]8

[deleted]8

Expired8

[deleted]8

1A 3

Each and every rule in COLL8

R

The rules in COLL do not apply to any relevant party in relation to an authorised fund where the winding up of the fund has commenced before 12 February 2007, provided that each relevant party shall continue to comply with the provisions of CIS as if they still applied to them.

From 12 February 2007

12 February 2007

2

[deleted]8

[deleted]8

[deleted]8

Expired8

[deleted]8

3

[deleted]8

[deleted]8

Expired8

[deleted]8

[deleted]8

4

[deleted]8

G

[deleted]8

Expired8

[deleted]8

5

6[deleted]8

[deleted]8

Expired8

[deleted]8

.[deleted]8

6

[deleted]8

[deleted]8

[deleted]8

Expired8

[deleted]8

7

[deleted]8

[deleted]8

[deleted]8

Expired8

[deleted]8

[deleted]8

8

[deleted]8

[deleted]8

Expired8

[deleted]8

[deleted]8

9

[deleted]8

[deleted]8

[deleted]8

Expired8

10

[deleted]8

[deleted]8

[deleted8

Expired8

[deleted]8

Definition of relevant party

11

[deleted]8

[deleted]8

Expired8

[deleted]8

[deleted]8

122

Expired2

134

[deleted]8

[deleted]8

[deleted]8

Expired8

[deleted]8

714

Amendments to COLL made by the Collective Investment Schemes Sourcebook (UCITS Eligible Assets Directive and Other Amendments) Instrument 2008

R

(1) The authorised fund manager of an authorised fund may elect for early compliance with the instrument, in which case COLL applies as if it had been amended by the instrument.

Expired8

[deleted]8

(2) An election is irrevocable and does not take effect until the authorised fund manager notifies the depositary and the FCA in writing of the date it takes effect.

Expired8

(3) The authorised fund manager must make a record of the election and retain it for a period of six years from the date it takes effect.

From 6 March 2008 until 6 years from the date the relevant election took effect

915

Amendments to COLL 5.6.3 R made by the Collective Investment Schemes Sourcebook (Amendment No 5) Instrument 2009

R

The new timing provisions in relation to the prudent spread of risk will not take effect until 6 January 2011 in relation to those non-UCITS retail schemes authorised as an AUT or an ICVC prior to 6 January 2010.

6 January 2010 to 5 January 2011

6 January 2010

1016

COLL 4.5 and COLL 8.3.5 R to COLL 8.3.5E R

R

In relation to the preparation of any report pursuant to COLL 4.5 or COLL 8.3.5 R to COLL 8.3.5E R for the last annual accounting period or half-yearly accounting period ending before 6 March 2010, the authorised fund manager, depositary and auditor may together elect to comply with those rules as they were in force on 5 March 2010. The authorised fund manager must make a record of any such election and retain it for a period of six years from the date on which that record is made.

From 6 March 2010 to 5 July 2010

6 March 201011

1117

COLL 4.5.5R (1)(a)(iv) and COLL 4.5.9R (9A)12

R12

An authorised fund manager need not include in the short report or long report for a UCITS scheme the figure for the synthetic risk and reward indicator that would have been disclosed in its most recent key investor information document provided that, as at the accounting reference date to which the report relates, marketing of units in the scheme is being done on the basis of a simplified prospectus meeting the requirements of the Handbook.12

From 1 July 2011 to 31 October 201212

1 July 201112

12[Note: article 118(2) of the UCITS Directive]

1118

Each and every rule in COLL that relates to key investor information12

R12

(1) This rule applies to:

(a) an authorised fund manager of a UCITS scheme; and

(b) an ICVC which is a UCITS scheme and any other director of that ICVC;12

From 1 July 2011 to 30 June 201212

1 July 201112

12where the authorisation order for the scheme was made before 1 July 2011 and for this purpose, where this transitional provision is being applied in relation to an existing umbrella as at 1 July 2011 and an authorisation order is made for a new sub-fund of the umbrella after that date, this transitional provision shall also be applied to that sub-fund.

12(2) A person in (1) need not comply with any rule in COLL that relates to key investor information provided it continues to produce, publish, provide, and meet all other applicable regulatory requirements in relation to, a simplified prospectus for the UCITS scheme as set out in COLL 4.2.3B R (Simplified Prospectus provisions) (as it stands at 30 June 2011), and all references in any rule in COLL to key investor information should be read as references to the simplified prospectus.

From 1 July 2011 to 30 June 2012

1 July 2011

12(3) A person in (1) that makes use of this provision from 1 July 2011 may cease to do so in respect of the UCITS scheme or any sub-fund of the scheme at any time before [30 June 2012], but having done so, may not, in relation to that scheme or sub-fund, make use subsequently of this provision in respect of any rules or guidance in COLL.

12(4) A person in (1) that makes use of this provision in accordance with (2) in relation to a UCITS scheme or sub-fund of the scheme, or that ceases to do so in accordance with (3), must do so in respect of all classes of units in issue in that scheme or sub-fund, whether the units of any such class were first issued before, on or after 1 July 2011.

12[Note: article 118(2) of the UCITS Directive]

1119

COLL 4.4.12 R

COLL 4.4.13 R

COLL 7.7.19 R 12

R12

Where a UCITS scheme is to be the receiving UCITS in a proposed UCITS merger and no meeting of Unitholders is required to be held under COLL 7.6.2 R (5) and COLL 7.6.2 R (6), the authorised fund manager may satisfy its duty to the Unitholders of the receiving UCITS under COLL 7.7.19 R (Method of providing merger information to Unitholders) to provide the information by making it public in an appropriate manner.12

From 1 July 2011 to 31 December 201312

1 July 201112

1120

COLL 4.4.12 R

COLL 4.4.13 R

COLL 7.7.19 R 12

G12

(1) In determining the appropriate manner of making the information public, the authorised fund manager should ensure that:12

(a) a Unitholder can obtain the information at a reasonable cost;

(b) the information is available at reasonable times;

(c) publication is consistent with the manner in which the authorised fund manager makes other types of information about the scheme public, so that it is reasonably likely to come to the attention of Unitholders.12

From 1 July 2011 to 31 December 201312

1 July 201112

(2) Examples of what might be deemed appropriate include one or more of:12

(a) publication in a national newspaper;

(b) supply through an advertised local rate or freephone telephone number;

(c) publication on the internet; or

(d) communication to all existing Unitholders, before the merger has taken effect.12

(3) In addition to the methods of publication in (2), the authorised fund manager should consider publishing appropriate information about the merger in the next long report of the scheme. This might include an updated explanation of the matters set out in COLL 7.7.14 R (1) (Specific rules regarding the content of merger information to be provided to Unitholders of the receiving UCITS).12

1121

COLL 4.2.5R (3)(qa)

R

Where a scheme meets the conditions in COLL 5.9.3 R (Investment conditions: short-term money market funds) or COLL 5.9.5 R (Investment conditions: money market funds) on 30 June 2011 an authorised fund manager need not include the statement in COLL 4.2.5R (3)(qa).

1 July 2011 to 31 December 2011

1 July 2011

1122

COLL 4.6.8R(8)(d)

R

Where a scheme meets the conditions in COLL 5.9.3 R or COLL 5.9.5 R on 30 June 2011 an authorised fund manager need not include the statement in COLL 4.6.8R(8)(d).

1 July 2011 to 31 December 2011

1 July 2011

1123

COLL 5.9.3 R and COLL 5.9.5 R

R

The conditions in COLL 5.9.3 RC and COLL 5.9.5 R that a money market fund or a short-term money market fund must satisfy do not apply to investments acquired prior to 1 July 2011.

1 July 2011 to 31 December 2011

1 July 2011

1124

COLL 8.3.4R (6)

R

Where a scheme meets the conditions in COLL 5.9.3 R or COLL 5.9.5 R on 30 June 2011 an authorised fund manager need not include the statement in COLL 8.3.4R(6).

1 July 2011 to 31 December 2011

1 July 201113

1325

COLL 3 to COLL 8

R

(1) The following chapters and provisions of COLL apply as if the amendments made to those chapters and provisions by the Collective Investment Schemes Sourcebook (ICVC Sub-funds) Instrument 2011 had not been made in respect of an ICVC in the circumstances specified under (2):

(a) COLL 3;

(b) COLL 4;

(c) COLL 5;

(d) COLL 6;

(e) COLL 7 (except COLL 7.3.3 G and COLL 7.3.7 R (9)); and

(f) COLL 8.

(2) The chapters and provisions referred to in (1) apply as described in respect of an ICVC until the date on which either:

(a) the instrument of incorporation is amended to contain a statement to effect compliance with paragraph 2(ba) of Schedule 2 to the OEIC Regulations; or

(b) an authorisation order is given to an ICVC which contains in its instrument of incorporation the statement to effect compliance with paragraph 2(ba) of Schedule 2 to the OEIC Regulations.

From 21 December 2011 to 20 December 2014

21 December 2011

1326

COLL 3 to COLL 8

D

In respect of an ICVC which is amending its instrument of incorporation under COLL TP 1.1R(25)(2)(a), the FCA must be provided with the notification required by regulation 4(9) of the Open-Ended Investment Companies (Amendment) Regulations 2011 in writing. That notification must consist of a statement confirming that the umbrella does not have any agreements or contracts with a third party the provisions of which are inconsistent with paragraph (1) or (2) of regulation 11A of the OEIC Regulations. The notification must be provided at the same time as providing the notification required by regulation 21 of the OEIC Regulations.

From 21 December 2011 to 20 December 2014

21 December 2011

1327

COLL 3 to COLL 8

G

Prior to amending the instrument of incorporation as set out in COLLTP1.1R(25)(2)(a), regulation 4(9) of the Open-Ended Investment Companies (Amendment) Regulations 2011 requires notification to be provided to the FCA in such form as the FCA may direct. The form in which the FCA directs this notification is to be provided is set out in TP1.1D(26).

From 21 December 2011 to 20 December 2014

21 December 2011