262 Open-ended investment companies
262 Open-ended investment companies

(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;

(e)     as to the powers, duties, rights and liabilities of such a body and of other persons, including—

(i)     the directors or sole director of such a body;

(ii)     its depositary (if any);