Investment Funds, Companies and Miscellaneous Provisions Act 2005
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Refusal of authorisation. |
11.—(1) Where the Bank decides to refuse authorisation of a common contractual fund, it shall notify the management company and the custodian of the common contractual fund of its decision and of the reasons therefor. | |
(2) The management company may apply to the High Court for a review of the decision in accordance with Regulation 105 of the UCITS Regulations (as applied by section 18 ). | ||
(3) The management company shall have the same right to apply to the High Court as in subsection (2) if a decision on authorisation under section 8 has not been taken by the Bank within 6 months of the submission of an application for authorisation which includes the information (other than any additional information sought by the Bank) specified by the Bank under section 8 (2). |