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Unit Trusts Act, 1990

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Number 37 of 1990

UNIT TRUSTS ACT, 1990

ARRANGEMENT OF SECTIONS

Section

1.

Interpretation.

2.

Non-application of this Act to certain undertakings.

3.

Register of authorised unit trust schemes.

4.

Authorisation of unit trust schemes.

5.

Powers of Bank.

6.

Refusal of authorisation.

7.

Alteration in trust deed of, or change in name of, authorised unit trust scheme.

8.

Replacement of management company or trustee.

9.

Prohibition of the sale or purchase of units of unauthorised unit trust schemes and certain like schemes.

10.

Prohibition of certain advertising in relation to unauthorised unit trust schemes and certain like schemes.

11.

Assets of unit trust schemes.

12.

Obligation on management companies under unit trust schemes to purchase units.

13.

Prohibition of certain transactions and making of certain profits by management companies under unit trust schemes and by certain other persons.

14.

Liability of trustees under authorised unit trust schemes.

15.

Adaptation of certain provisions of UCITS Regulations.

16.

Offences in relation to certain bodies.

17.

Offences under provisions of this Act and UCITS Regulations.

18.

Penalties.

19.

Expenses of Minister.

20.

Repeal of Unit Trusts Act, 1972, and consequential provisions.

21.

Short title.

Acts Referred to

Petty Sessions (Ireland) Act, 1851

1851, c. 93

Industrial Credit Act, 1933

1933, No. 25

Companies Act, 1963

1963, No. 33

Central Bank Act, 1971

1971, No. 24

Unit Trusts Act, 1972

1972, No. 17

European Communities Act, 1972

1972, No. 27

Central Bank Act, 1989

1989, No. 16

Trustee Savings Banks Act, 1989

1989, No. 21

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Number 37 of 1990

UNIT TRUSTS ACT, 1990

AN ACT TO MAKE FRESH PROVISION, IN THE PUBLIC INTEREST AND IN THE INTERESTS OF HOLDERS OF UNITS OF UNIT TRUST SCHEMES, FOR THE CONTROL AND REGULATION OF SUCH SCHEMES, TO PROHIBIT IN CERTAIN CIRCUMSTANCES THE ADVERTISING OF, AND THE SALE OR PURCHASE OF UNITS OF, SUCH SCHEMES OR SCHEMES OF A SIMILAR NATURE, TO REPEAL THE UNIT TRUSTS ACT, 1972 , AND TO PROVIDE FOR OTHER MATTERS CONNECTED WITH THE MATTERS AFORESAID. [26th December, 1990]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS: