Investment Funds, Companies and Miscellaneous Provisions Act 2005

Alteration in deed of constitution of, or change in name of, common contractual fund.

12

12.—(1) No alteration in the deed of constitution of a common contractual fund or change in the name of such a common contractual fund shall be made without the approval of the Bank and—

( a) any person who makes such an alteration or change without such approval shall be guilty of an offence, and

( b) any such alteration made without the approval of the Bank is void.

(2) Within 21 days after the making of an alteration in the deed of constitution of a common contractual fund or a change in the name of a common contractual fund, the management company of the common contractual fund shall deposit with the Bank a copy of the deed of constitution as so altered or containing the alterations or (as the case may be) particulars of the change in name.

(3) Where the management company of a common contractual fund fails to comply with subsection (2), it shall be guilty of an offence.