[241A Bearer units no longer to be issued]
[241A Bearer units no longer to be issued]

[Chapter 2A
Prohibition on Issue of Bearer Units]

[241A  Bearer units no longer to be issued]

[(1)      No bearer units in a collective investment scheme may be issued, converted or cancelled after 1 January 2021.

(2)     Subsection (1) applies in relation to a collective investment scheme even if the arrangements constituting the scheme purport to authorise the issue, conversion or cancellation of bearer units in the scheme.

(3)     In this section “bearer units”, in relation to a collective investment scheme, means units in the scheme evidenced by a certificate, or any other documentary evidence of title, which indicates—

(a)     that the holder of

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