[258A Winding up or merger of master UCITS]

[258A  Winding up or merger of master UCITS]

[(1)     Subsection (2) applies if a master UCITS which has one or more feeder UCITS which are authorised unit trust schemes is wound up, whether as a result of a direction given by the [FCA] under section 257 [or 261X], an order of the court under section 258 [or 261Y], rules made by the [FCA] or otherwise.

(2)     The [FCA] must direct the manager and trustee of any authorised unit trust scheme which is a feeder UCITS of the master UCITS to wind up the feeder UCITS unless—

(a)     the [FCA] approves

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