(1) The Treasury may by regulations make provision for—
(a) facilitating the carrying on of collective investment by means of open-ended investment companies;
(b) regulating such companies.
(2) The regulations may, in particular, make provision—
(a) for the incorporation and registration in [the United Kingdom] of bodies corporate;
(b) for a body incorporated by virtue of the regulations to take such form as may be determined in accordance with the regulations;
(c) as to the purposes for which such a body may exist, the investments which it may issue and otherwise as to its constitution;
(d) as to the management and operation of such a body and the management of its property;
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You may apply simplified customer due diligence (SDD) measures in relation to particular business relationships or transactions which you determine present a low risk of money laundering or terrorist financing, having taken into account:•your organisation-wide risk assessment—see Practice Note:
Brexit: The UK's departure from the EU on exit day ie Friday 31 January 2020 has implications for practitioners dealing with provisions in the CPR relevant to cross border matters, including CPR 5.4C (discussed below). For guidance on the impact of Brexit on the CPR, see Cross border
ContractWhere a contract is made by two or more parties it may contain a promise or obligation made by two or more of those parties. Any such promise may be:•joint•several, or•joint and severalWhether an undertaking is joint, several, or joint and several in contract is a question of construction
For guidance on the basic features of the doctrine of estoppel and the different classifications it has been subject to, see Practice Note: Estoppel—what, when and how to plead and related content.Promissory estoppel—what is it?Where A has, by words or conduct, made to B a clear and unequivocal
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