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Investment Funds, Companies and Miscellaneous Provisions Act 2005

PART 3

Amendments to Part XIII of Act of 1990

Amendment of section 252 of Act of 1990.

22.—Section 252(1) of the Act of 1990 is amended by including, in the appropriate places, the following additional definitions—

“ ‘management company’ means a company designated by an investment company to undertake the management of the investment company;

‘sub-fund’ means a separate portfolio of assets maintained by an investment company in accordance with its articles;

‘umbrella fund’ means an investment company which has one or more sub-funds and which is authorised by the Central Bank pursuant to section 256.”.