Investment Funds, Companies and Miscellaneous Provisions Act 2005

Prohibition of certain transactions and making of certain profits by management companies, etc.

15

15.—(1) Neither a management company of a common contractual fund (the “corporate body”) nor a subsidiary or a holding company of that corporate body or a subsidiary of the holding company of that corporate body or a director or person engaged in the management of such corporate body or company shall carry out transactions for it, him or herself, or make a profit for it, him or herself from transactions, in any assets held under the scheme save in accordance with the deed of constitution and any conditions imposed by the Bank.

(2) A person who contravenes this section shall be guilty of an offence.

Annotations:

Editorial Notes:

E103

Offence under subs. (2) prescribed an arrestable offence (9.08.2011) for purposes of Criminal Justice Act 2011 (22/2011), s. 3 and sch. 1 para. 9, S.I. No. 411 of 2011.