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Consultations & legislation
01 February 2007
Section 235(1) of the Financial Services and Markets Act 2000 (FSMA) defines a Collective Investment Scheme (CIS). There is a general prohibition on establishing, operating or winding up a CIS without prior authorization from the Financial Services Authority (FSA) . The Schedule to the FSMA Collective Investment Schemes Order 2001 lists certain cases in which arrangements which would otherwise be considered CISs under Section 235 of FSMA are exempt and can therefore be established without FSA authorisation. This consultation seeks views on proposed amendments to the Order to clarify the application of one of the exemptions to certain types of proprerty transaction. The Government invites comments on the proposals. The consultation closes on 29 March 2007.
The Consultation on amendments to the CIS border for property transactions is available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
Consultation on amendments to the CIS border for property transactions (PDF 394KB)
(ISBN: 978-1-84532-150-5)
