scheme of arrangement

(in COLL) an arrangement relating to an authorised fund 75 ("transferor fund") or to a sub-fund 75 of a scheme that is an umbrella ("transferor sub-fund") under which:

1. (a) either:
   1. (i) all or part of the property of the transferor fund, or all or part of the property attributed to the transferor 75 sub-fund 75 , is to become the property of one or more regulated collective investment schemes ("transferee 75 schemes 75 "); or
   2. (ii) all or part of the property attributed to the transferor 75 sub-fund 75 is to become part of the property attributed to one or more other sub-funds of the same umbrella 75 ("transferee sub-funds 75 "); and
2. (b) holders of units in the transferor fund or transferor sub-fund 75 , the property of which is being transferred or reattributed under (a), are to receive, in exchange for their respective interests in that property, either:
   1. (i) units in the transferee 75 scheme 75 or one or more of the transferee 75 schemes 75 , to which the property is transferred; or
   2. (ii) units in the transferee sub-fund 75 or one or more of the transferee 52275 sub-funds 75 , to which the property is reattributed.