UK Statutory Instrument SI 1988/284 United Kingdom

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

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Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Any Person4 Trustee3

Other Acts binding the same actors

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

Any Person — also bound by 2340 other Acts
Trustee — also bound by 104 other Acts
Charities Act 2011 27 duties

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 Duties of manager and trustee to avoid breach of investment limits Regulated
  • Manager and trustee must avoid breaching investment limitsTrustee
s.006 Duties of manager and trustee in the event of inadvertent breach of investment limits Regulated
  • Remedy inadvertent investment limit breaches within six monthsAny Person
s.007 Duties of manager and trustee in the event of other breaches of investment limits Regulated
  • Correct any investment limit breaches immediatelyAny Person
s.008 Hedging Regulated
  • Ensure hedging transactions are genuine risk-reduction and comply with regulationsTrustee
s.031 Borrowing Regulated
  • Ensure borrowing by the unit trust scheme stays within legal limitsAny Person
s.032 Underwriting and placings Regulated
  • Ensure underwriting agreements comply with investment and borrowing limitsAny Person
s.034 Uncovered sales of property Regulated
  • Do not sell scheme property unless you can cover the obligationTrustee
32 other provisions — procedural and definitional
s.001 Citation and commencement
s.001 Any Stock Exchange in Austria, Japan, New Zealand, Norway, Sweden... (opens in a new tab)
s.002 Interpretation
s.002 The Helsinki Stock Exchange, the Johannesburg Stock Exchange, the Kuala... (opens in a new tab)
s.003 Property included and assumptions to be made in valuing fund
s.003 Any Stock Exchange prescribed for the purposes of the Canadian... (opens in a new tab)
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
Schedules

Schedules

0 of 3 shown
3 other schedules
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...

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