UK Statutory Instrument 1988 United Kingdom

The Authorised Unit Trust Scheme (Investment and Borrowing Powers) Regulations 1988

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At a glance

What's here

7 compliance obligations

What this Act requires

Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.

Schedules

Browse 3 other Schedules — structural / supplementary
s.sch001

Any Stock Exchange in Hong Kong which is recognised under...

s.sch001

Any exchange registered with the Securities and Exchange Commission of...

s.sch001

The Over-the-Counter Market in the United States of America regulated...

s.005

Duties of manager and trustee to avoid breach of investment limits

  • Manager and trustee must avoid breaching investment limits
s.006

Duties of manager and trustee in the event of inadvertent breach of investment limits

  • Remedy inadvertent investment limit breaches within six months
s.007

Duties of manager and trustee in the event of other breaches of investment limits

  • Correct any investment limit breaches immediately
s.008

Hedging

  • Ensure hedging transactions are genuine risk-reduction and comply with regulations
s.031

Borrowing

  • Ensure borrowing by the unit trust scheme stays within legal limits
s.032

Underwriting and placings

  • Ensure underwriting agreements comply with investment and borrowing limits
s.034

Uncovered sales of property

  • Do not sell scheme property unless you can cover the obligation
Browse 32 other sections — procedural / definitional / commencement
s.001

Citation and commencement

s.002

Interpretation

s.003

Property included and assumptions to be made in valuing fund

s.004

Valuation of property

s.009

Restriction of investment powers exercisable in relation to authorised unit trust schemes

s.010

Restriction of authorised securities schemes to investment in approved securities

s.011

Exceptions from regulations 9 and 10

s.012

Ability of authorised securities scheme to invest in open-ended collective investment schemes

s.013

Limitation on amount which may be invested under regulation 12

s.014

Limitation on investment in schemes managed by manager or associated company

s.015

Limitation on investment in instruments conferring rights to subscribe and investment in nil paid or partly paid securities

s.016

Limitation on acquisition of influential stake

s.017

Authorised securities schemes other than Government and other public securities funds: spread of investments

s.018

Exceptions from regulation 17

s.019

Acquisitions as a result of exercise of rights

s.020

Government and other public securities funds: spread of investments

s.021

Money market funds: limitation of ability to invest in transferable securities

s.022

Money market funds: general investment powers

s.023

Money market funds; spread of investments

s.024

Money market funds: limitation of ability to invest in long dated instruments

s.025

Application of regulations 15 and 16 to money market funds

s.026

Feeder funds: limitation to investment in units of single collective investment scheme

s.027

Funds of funds: limitation to investment in units of other collective investment schemes

s.028

Prohibition on fund of funds investing in another fund of funds

s.029

Funds of funds: spread of investments

s.030

Feeder funds and funds of funds: ability to hold cash and near cash

s.033

Lending, guarantees and indemnities

s.035

Application of regulations to umbrella funds

s.036

Prohibition on a scheme of a particular kind becoming a scheme of another kind

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