242 Applications for authorisation of unit trust schemes
242 Applications for authorisation of unit trust schemes

[(1)     The manager and trustee, or proposed manager and trustee, of a unit trust scheme may apply to the FCA for—

(a)     an order declaring the scheme to be an authorised unit trust scheme;

(b)     an order declaring the scheme to be an authorised money market fund.]

(2)     The manager and trustee (or proposed manager and trustee) must be different persons.

(3)     [An application]—

(a)     must be made in such manner as the [FCA] may direct; and

(b)     must contain or be accompanied by such information as the [FCA] may reasonably require for the purpose of determining the application.