UK: the Open-Ended Investment Companies (Amendment) Regulations 2009

A draft copy of the Open-Ended Investment Companies (Amendment) Regulations 2009 was published yesterday on OPSI. The Regulations, when they come into force, will make it possible to transfer shares in open-ended investment companies by electronic communication in England, Wales and Scotland. Currently a paper instrument of transfer is required.

The explanatory memorandum accompanying the draft Regulations is available here. It should be noted that the Regulations published yesterday replace a draft statutory instrument of the same title (see here) which was published on OPSI at the end of November.