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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.
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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).
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(1) (except in REC) (as defined in paragraph 10 of Schedule 3 to the Act (EEA Passport Rights)) a person whose head office is in the United Kingdom and who has an EEA right to carry on activity in an EEA State other than the United Kingdom.(2) (in REC) means an investment firm or credit institution which has a Part 4A permission to carry on one or more regulated activities.
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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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(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]
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a UKfirm that:(a) is not part of a group that is subject to consolidated supervision by the FCA or the PRA or any other regulatory body; or(b) is part of a group that is subject to consolidated supervision by the FCA or the PRA and that group is not part of a wider group that is subject to consolidated supervision by a regulatory body other than the FCA or the PRA.For the purposes of this definition:(c) Consolidated supervision of a group of persons means supervision of the adequacy of financial and other resources of that group on a consolidated basis. For example, this includes supervision under BIPRU 8 (Group risk consolidation).(d) It is not relevant whether or not any supervision by another regulatory body has been assessed as equivalent under the CRD or the Financial Groups Directive.(e) If the group is a UK consolidation group or financial conglomerate of which the FCA or the PRA is lead regulator that is headed by an undertaking that is not itself the subsidiary undertaking of another undertaking the firm is a 'UK lead regulated firm'.This definition is not related to the defined term lead regulated firm.
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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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a firm that has its registered office (or, if it has no registered office, its head office) in the United Kingdom.
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the Undertaking for Collective Investment in Transferable Securities Regulations 2011 (SI 2011/1613).
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undertakings for collective investment in transferable securities that are established in accordance with the UCITS Directive.
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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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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.
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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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(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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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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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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an ILAS BIPRU firm which has its registered office (or, if it does not have a registered office, its head office) in the United Kingdom.
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a MiFID investment firm whose Home State is the United Kingdom (this may include a natural person provided the conditions set out in Article 4(1)(1) of MiFID are satisfied).