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undertakings for collective investment in transferable securities that are established in accordance with the UCITS Directive.
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undertakings for collective investment in transferable securities that are established in accordance with the UCITS Directive.
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(A) In the PRA Handbook:(a) an authorised fund authorised by the FCA in accordance with the UCITS Directive:(i) with the sole object of collective investment in transferable securities or in other liquid financial instruments permitted by COLL 5.2 (General investment powers and limits for UCITS schemes) of capital raised from the public and which operates on the principle of risk-spreading; and(ii) with units which are, at the request of unitholders, repurchased or redeemed, directly or indirectly, out of the scheme's assets; and for this purpose action taken by or on behalf of a scheme to ensure that the stock exchange value of its units does not significantly vary from their net asset value is to be regarded as equivalent to that repurchase or redemption; or(b) an umbrella, each of whose sub-funds would be a UCITS scheme if it had a separate authorisation order;unless:(c) [deleted](d) the scheme'sunits under its instrument constituting the scheme, may be sold only to the public in non-EEA States; or(e) the scheme (other than a master UCITS which has at least two feeder UCITS as unitholders) raises capital without promoting the sale of its units to the public within the EEA or any part of it.[Note: article 1 of the UCITS Directive](B) In the FCA Handbook:(a) an authorised fund authorised by the FCA in accordance with the UCITS Directive:(i) with the sole object of collective investment in transferable securities or in other liquid financial instruments permitted by COLL 5.2 (General investment powers and limits for UCITS schemes) of capital raised from the public and which operates on the principle of risk-spreading; and(ii) with units which are, at the request of unitholders, repurchased or redeemed, directly or indirectly, out of the scheme's assets; and for this purpose action taken by or on behalf of a scheme to ensure that the stock exchange value of its units does not significantly vary from their net asset value is to be regarded as equivalent to that repurchase or redemption; or(b) an umbrella, each of whose sub-funds would be a UCITS scheme if it had a separate authorisation order;unless:(c) [deleted](d) the scheme'sunits under its instrument constituting the fund, may be sold only to the public in non-EEA States; or(e) the scheme (other than a master UCITS which has at least two feeder UCITS as unitholders) raises capital without promoting the sale of its units to the public within the EEA or any part of it.[Note: article 1 of the UCITS Directive]
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(A) In the PRA Handbook:a firm which:(b) does not have a Part 4A permission (or an equivalent permission from its Home State regulator) to carry on any regulated activities other than those which are in connection with, or for the purpose of, managing collective investment undertakings.(B) In the FCA Handbook:a firm which:(a) is a management company (whether or not it is also the manager of AIFs or the operator of other collective investment schemes); and(b) does not have a Part 4A permission (or an equivalent permission from its Home State regulator) to carry on any regulated activities other than those which are in connection with, or for the purpose of, managing collective investment undertakings.
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a firm (other than an EEA UCITS management company) which:(a) for the time being is an operator, trustee or depositary of a scheme which is a recognised scheme under section 264 of the Act; and(b) is an authorised person as a result of paragraph 1(1) of Schedule 5 to the Act (Persons Concerned in Collective Investment Schemes);a reference to a firm as a UCITS qualifier applies in relation to the carrying on by the firm of activities for which it has permission in that capacity.
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(in COLL and in accordance with article 2(1)(p) of the UCITS Directive) a merger between one or more UCITS schemes or between one or more UCITS schemes and EEA UCITS schemes being an operation whereby:(a) one or more merging UCITS, on being dissolved without going into liquidation, transfers all of its assets and liabilities to an existing receiving UCITS, in exchange for the issue to its unitholders of units of the receiving UCITS and, if applicable, a cash payment not exceeding 10% of the net asset value of those units (a "merger by absorption"); or(b) two or more merging UCITS, on being dissolved without going into liquidation, transfer all of its assets and liabilities to a receiving UCITS which they form, in exchange for the issue to their unitholders of units of the receiving UCITS and, if applicable, a cash payment not exceeding 10% of the net asset value of those units (a "merger by formation of a new UCITS"); or(c) one or more merging UCITS, which continue to exist until the liabilities have been discharged, transfer its net assets to another receiving UCITS, and for this purpose the merging UCITS and the receiving UCITS may be sub-funds of the same UCITS (a "merger by scheme of arrangement");but at least one of which is established in the United Kingdom.
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the European Parliament andCouncil Directive of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (No 2009/65/EC),, as amended.
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means the European Parliament and Council Directive of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (No 2009/65/EC) as amended.
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(A) In the PRA Handbook:a firm which:(a) is a management company (whether or not it is also the operator of other collective investment schemes); and(b) has a Part 4A permission (or an equivalent permission from its Home State regulator) to manage investments where:(i) the investments managed include one or more of the instruments listed in Section C of Annex 1 to MiFID; and(ii) the permission extends to activities permitted by article 6(3) of the UCITS Directive as well as those permitted by article 6(2).(B) In the FCA Handbook:a firm which:(a) is a management company (whether or not it is also the manager of AIFs or the operator of other collective investment schemes); and(b) has a Part 4A permission (or an equivalent permission from its Home State regulator) to manage investments where:(i) the investments managed include one or more of the instruments listed in Section C of Annex 1 to MiFID; and(ii) the permission extends to activities permitted by article 6(3) of the UCITS Directive as well as those permitted by article 6(2).
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the Undertaking for Collective Investment in Transferable Securities Regulations 2011 (SI 2011/1613).
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Commission Directive (2010/43/EU) of the European Parliament and of the Council implementing Directive 2009/65/EC (UCITS IV) as regards certain provisions concerning organisational requirements, conflicts of interest, conduct of business, risk management and content of the agreement between a depositary and a management company.
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(in COLL) a notification in respect of a UCITS scheme, for the purpose of marketingunits in another EEA State, pursuant to:(a) paragraph 20B(5) (Notice of intention to market) of Schedule 3 (EEA Passport Rights) to the Act; or(b) article 46 of the Council Directive of 20 December 1985 on the co-ordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (No 85/611/EEC).
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(1) (except in relation to MiFID business) a firm which is either:(a) a UCITS firm; or(b) a UCITS investment firm.(2) (in relation to MiFID business) a management company as defined in the UCITS Directive.[Note: article 4 (1)(24) of MiFID]
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a management company that is established in the United Kingdom and is authorised and regulated by the FCA .
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Commission Directive 2007/16/EC implementing Council Directive 85/611/EEC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards the clarification of certain definitions.
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Commission Directive (2010/44/EU) of the European Parliament and of the Council implementing Directive 2009/65/EC (UCITS IV) as regards certain provisions concerning fund mergers, master-feeder structures and notification procedure.