Northern Ireland Statutory Rule SI 2004/335 United Kingdom

Open-Ended Investment Companies Regulations (Northern Ireland) 2004

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Prosecution 1 of 33 obligations carry an unlimited fine. 32 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Trader30 Director or Officer1 Any Person1

Plus 1 duty on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 duties
Director or Officer — also bound by 429 other Acts
Companies Act 2006 126 duties
Any Person — also bound by 2340 other Acts

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.005 Safekeeping of scheme property by depositary Regulated
  • Entrust all scheme property to a depositary for safekeepingTrader
s.015 Requirements for authorisation Regulated
  • Meet authorisation requirements for your open-ended investment companyTrader
s.018 Registrar’s approval of names Regulated
  • Obtain Authority's approval before changing company nameTrader
s.021 The Authority’s approval for certain changes in respect of a company Regulated
  • Notify the Authority of major company changes and wait for approvalTrader
s.034 Directors Regulated
  • Directors must manage the company's business and follow appointment rulesDirector or Officer
s.036 Inspection of directors' service contracts Regulated
  • Keep directors' service contracts available for shareholder inspectionTrader
s.037 General meetings Regulated
  • Hold an annual general meeting each yearTrader
s.046 Share certificates Regulated
  • Prepare and issue share certificates to shareholders when requiredTrader
s.054 Name to appear in correspondence etc. Regulated
  • Show company name on all business letters and documentsTrader
s.055 Particulars to appear in correspondence etc. Regulated
  • Include required particulars on all correspondence and documentsTrader
s.067 Reports: accounts Regulated
  • Include accounts and auditors' report in annual reportTrader
s.077 Public notice by the Authority of receipt and issue of certain documents Regulated
Other duties (1) — Crown / regulator
  • Authority must publish notices in Belfast Gazette for OEIC documentsStatutory regulator
s.082 Evidence of grant of probate etc. Regulated
  • Accept grant of probate or letters of administration as sufficient evidenceTrader
71 other provisions — procedural and definitional
s.001 Citation, commencement and extent
s.002 Interpretation
s.003 Open-ended investment company
s.004 Registration by the Authority
s.006 FCA rules
s.007 Modification or waiver of FCA rules
s.008 Notices: general
s.009 Publication
s.010 The regulator’s procedures
s.011 The Tribunal
s.012 Applications for authorisation
s.013 Particulars of directors
s.014 Authorisation
s.016 Representations against refusal of authorisation
s.017 Certificates
s.019 Prohibition on certain names
s.020 Registrar’s index of company names
s.022 Procedure when refusing approval of proposed changes
s.023 Ending of authorisation
s.024 Procedure
s.025 Directions
s.026 Applications to the court
s.027 Procedure on giving directions under regulation 25 and varying them on Authority’s own initiative
s.028 Procedure: refusal to revoke or vary direction
s.029 Procedure: revocation of direction and grant of request for variation
s.030 Power to investigate
s.031 Winding up by the court
s.032 Dissolution on winding up by the court
s.033 Dissolution in other circumstances
s.035 Directors to have regard to interests of employees
s.038 Capacity of company
s.039 Power of directors and general meeting to bind the company
s.040 No duty to enquire as to capacity etc.
s.041 Exclusion of deemed notice
s.042 Restraint and ratification by shareholders
s.043 Events affecting company status
s.044 Invalidity of certain transactions involving directors
s.045 Shares
s.047 Exceptions from regulation 46
s.048 Bearer shares
s.049 Register of shareholders
s.050 Power to close register
s.051 Power of court to rectify register
s.052 Share transfers
s.053 Power incidental to carrying on business
s.056 Contracts
s.057 Execution of documents
s.058 Execution of deeds outside the United Kingdom
s.059 Authentication of documents
s.060 Official seal for share certificates
s.061 Personal liability for contracts and deeds
s.062 Exemptions from liability to be void
s.063 Power of court to grant relief in certain cases
s.064 Punishment for fraudulent trading
s.065 Power to provide for employees on cessation or transfer of business
s.066 Reports: preparation
s.068 Reports: voluntary revision
s.069 Auditors
s.070 Mergers and divisions
s.071 Register of open-ended investment companies
s.072 Companies' registered numbers
s.073 Delivery of documents to the Authority
s.074 Keeping of company records by the Authority
s.075 Inspection etc. of records kept by the Authority
s.076 Provision by the Authority of documents in non-legible form
s.078 Exclusion of deemed notice
s.079 Contraventions
s.080 Offences by bodies corporate etc.
s.081 Jurisdiction and procedure in respect of offences
s.083 Minor and consequential amendments
s.084 Revocation etc.
Schedules

Schedules

20 of 70 shown
s.sch001 (1) Where the depositary of a company ceases, for any... Regulated
  • Send depositary's statement to shareholders or apply to court within 14 daysTrader
s.sch002 (1) The instrument of incorporation must also contain provision as... Regulated
  • Instrument of incorporation must state prescribed termsTrader
s.sch003 (1) Subject to sub-paragraph (2), every open-ended investment company must... Regulated
  • Keep a register of shareholdersTrader
s.sch003 (1) Every company must keep an index of the names... Regulated
  • Keep an index of shareholders and update within 14 daysTrader
s.sch003 (1) Subject to regulation 50 and to FCA rules, the... Regulated
  • Allow shareholders to inspect the register and provide copies free of chargeTrader
s.sch003 A company must exercise all due diligence and take all... Regulated
  • Keep your shareholder register complete and up to dateTrader
s.sch003 (1) This paragraph does not apply to any issue or... Regulated
  • Enter new shareholders on the register with required detailsTrader
s.sch003 The register of shareholders of a company must be kept... Regulated
  • Keep your shareholder register at your head office (or an alternative permitted location)Trader
s.sch004 Where any shares are transferred to the company, the company... Regulated
  • Cancel shares transferred to your companyTrader
s.sch004 (1) Where a transfer of shares is made by the... Regulated
  • Do not register share transfers without evidence of transferTrader
s.sch004 (1) Except in the case of any transfer of shares... Regulated
  • Do not register share transfers without required documentsTrader
s.sch004 In the case of any transfer of shares which meets... Regulated
  • Register share transfers that meet the specified conditionsTrader
s.sch004 (1) A company may, before the end of the period... Regulated
  • Give written notice to transferee if refusing to register a share transferTrader
s.sch005 (1) The remuneration of auditors of a company who are... Regulated
  • You must fix auditor pay at a general meeting or let the meeting decideTrader
s.sch005 (1) A company may by resolution remove an auditor from... Regulated
  • Notify the Authority of an auditor removal resolution within 14 daysTrader
s.sch005 (1) A resolution at a general meeting of a company... Regulated
  • Handle auditor removal or replacement with proper notice and shareholder informationTrader
s.sch005 (1) This paragraph applies where a notice of resignation of... Regulated
  • Convene meeting and circulate statement on auditor's resignation if requestedTrader
s.sch005 (1) Where an auditor ceases for any reason to hold... Regulated
  • Send auditor's exit statement to shareholders or apply to court within 14 daysTrader
s.sch005 (1) No person is to act as auditor of a... Prosecution
  • Act as auditor while ineligible or fail to notify vacating officeAny Person

Unlimited fine

s.sch005 (1) Every company must appoint an auditor or auditors in... Regulated
  • Appoint auditor at each general meetingTrader
50 other schedules
s.sch001 On the coming into effect of an authorisation order in...
s.sch001 Subject to regulations 21 and 26, any subsequent appointment of...
s.sch001 The depositary of a company may not retire voluntarily except...
s.sch001 The depositary of a company is entitled –
s.sch001 (1) This paragraph applies where copies of a statement have...
s.sch002 The instrument of incorporation of an open-ended investment company must...
s.sch002 The statements referred to in paragraph 1(a) are –
s.sch002 (1) The instrument of incorporation must contain provision as to...
s.sch002 (1) Once an authorisation order has been made in respect...
s.sch002 (1) The provisions of a company’s instrument of incorporation are...
s.sch003 (1) Sub-paragraphs (2) and (4) apply where, in accordance with...
s.sch003 The register of shareholders is prima facie evidence of any...
s.sch003 No notice of any trust, express, implied or constructive, is...
s.sch003 (1) The register of shareholders must contain an entry consisting...
s.sch003 The register of shareholders must contain a monthly statement of...
s.sch003 (1) This paragraph applies where the aggregate number of shares...
s.sch004 The instrument of incorporation of a company may contain provision...
s.sch004 Nothing in the preceding provisions of this Schedule prejudices any...
s.sch004 A transfer of registered shares that are held by a...
s.sch004 On the death of any one of the joint holders...
s.sch004 (1) Where, in respect of any transfer of shares, the...
s.sch004 A transfer of title to any bearer share in a...
s.sch004 Where the holder of bearer shares proposes to transfer to...
s.sch005 No person is eligible for appointment as auditor of an...
s.sch005 (1) Subject to sub-paragraph (2), the power of the Department...
s.sch005 (1) An auditor who has been removed from office has,...
s.sch005 (1) An auditor of a company may resign his office...
s.sch005 (1) An auditor who has resigned has, notwithstanding his removal,...
s.sch005 (1) If a person ceasing to hold office as auditor...
s.sch005 (1) A person is ineligible for appointment as auditor of...
s.sch005 Section 249(1) of the Act (disqualification of auditor for breach...
s.sch005 If, in any case, no auditors are appointed as required...
s.sch005 (1) The directors of a company, or the company in...
s.sch005 (1) Sub-paragraphs (2) to (5) apply to the appointment, as...
s.sch005 (1) The auditors of a company have a right of...
s.sch005 (1) The auditors of a company are entitled –
s.sch006 This Schedule applies to any reconstruction or amalgamation involving an...
s.sch006 An open-ended investment company may apply to the court under...
s.sch006 A public company may apply to the court under section...
s.sch006 (1) The schemes falling within this paragraph are –
s.sch006 An application made by virtue of paragraph 2 or 3...
s.sch006 (1) The provisions of the Companies Act 2006 referred to...
s.sch007 For section 1(4)(f) of the Stock Transfer Act (Northern Ireland)...
s.sch007 (1) Article 36 of the Companies (Northern Ireland) Order 1986...
s.sch007 (1) Article 207(2A) of the 1986 Order (interests to be...
s.sch007 In Article 217(1)(h) of the 1986 Order (interests to be...
s.sch007 In Article 228(1) of the 1986 Order (definitions for Part...
s.sch007 In Article 667(2) of the 1986 Order (exemptions from application...
s.sch007 In section 34(6) of the Pension Schemes (Northern Ireland) Act...
s.sch007 In Schedule 1 to the Company Directors Disqualification (Northern Ireland)...

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.