THE OPEN-ENDED INVESTMENT COMPANIES REGULATIONS INSTRUMENT OF INCORPORATION . of . Threadneedle UK...

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Transcript of THE OPEN-ENDED INVESTMENT COMPANIES REGULATIONS INSTRUMENT OF INCORPORATION . of . Threadneedle UK...

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    THE OPEN-ENDED INVESTMENT COMPANIES REGULATIONS 2001

    INSTRUMENT OF INCORPORATION

    of

    Threadneedle UK Property Authorised Investment Fund

    (An Open-Ended Investment Company with Variable Capital Registered in England and Wales under

    registered number IC000976)

    This Instrument is dated as at 22 December 2017

    Eversheds LLP One Wood Street

    London EC2V 7WS

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    CONTENTS

    (This table of contents does not form part of this Instrument)

    Clause Page

    INTERPRETATION ...................................................................................... 1 CONSTITUTION ......................................................................................... 6 NAME ....................................................................................................... 6 OBJECT .................................................................................................... 6 TYPE OF AUTHORISATION OF COMPANY ....................................................... 7 INVESTMENT IN ASSOCIATED COLLECTIVE INVESTMENT SCHEMES ................ 7 INVESTMENT IN GOVERNMENT AND PUBLIC SECURITIES ............................... 7 ELIGIBLE MARKETS .................................................................................... 8 CURRENCY OF ACCOUNTS .......................................................................... 8 SHARE CAPITAL AND SHARE CLASSES ......................................................... 8 ISSUE AND CANCELLATION OF SHARES IN THE COMPANY ............................. 10 IN SPECIE ISSUE AND CANCELLATION ........................................................ 10 SALE AND REDEMPTION ............................................................................ 10 SUSPENSION OF DEALING IN THE COMPANY ............................................... 11 VALUATION AND PRICING ......................................................................... 11 SWITCHING SHARES ................................................................................. 11 BODIES CORPORATE HOLDING SHARES ...................................................... 14 RESTRICTIONS AND COMPULSORY TRANSFER AND REDEMPTION................... 16 DESIGNATED PERSON ............................................................................... 18 BEARER SHARES AND SHARE CERTIFICATES ............................................... 18 DENOMINATIONS OF SHARES .................................................................... 20 TRANSFER AND TRANSMISSION OF SHARES ................................................ 20 GENERAL MEETINGS ................................................................................. 21 PROCEEDINGS AT GENERAL MEETINGS ....................................................... 21 VOTING RIGHTS ....................................................................................... 24 PROXIES ................................................................................................. 24 CORPORATIONS ACTING BY REPRESENTATIVES ........................................... 25 DIRECTORS ............................................................................................. 26 REMUNERATION AND REIMBURSEMENT OF EXPENSES OF DIRECTORS ............ 27 DIRECTORS’ EXPENSES ............................................................................. 27 MEETINGS AND PROCEEDINGS OF DIRECTORS ............................................ 28 INTERESTS OF DIRECTORS ........................................................................ 29 MINUTES OF DIRECTORS’ MEETINGS .......................................................... 32 APPOINTMENT, REMOVAL AND RETIREMENT OF DIRECTORS.......................... 32 AMENDMENTS .......................................................................................... 34 THE SEAL ................................................................................................ 34

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    INCOME EQUALISATION ............................................................................ 34 RIGHTS IN SCHEME PROPERTY AND ALLOCATION OF INCOME ....................... 35 INCOME AND DISTRIBUTIONS ................................................................... 35 CHEQUES ETC .......................................................................................... 37 CHARGES AND EXPENSES.......................................................................... 37 DESTRUCTION OF DOCUMENTS .................................................................. 37 NOTICES ................................................................................................. 38 WINDING UP ............................................................................................ 39 INDEMNITY .............................................................................................. 39 CONFLICT WITH REGULATIONS .................................................................. 40 GENUINE DIVERSITY OF OWNERSHIP CONDITION ........................................ 40 THE SCHEDULE ........................................................................................ 41 Part 1 ...................................................................................................... 41 Determination of Net Asset Value ............................................................... 41 Part 2 ...................................................................................................... 48 Proportionate Interests .............................................................................. 48

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    INTERPRETATION

    1. In this Instrument the words and expressions set out in the first column below shall have the meanings set opposite them unless the context requires otherwise. Words and expressions contained in this Instrument but not defined in this Instrument shall have the same meanings as in the Act or the Regulations (as defined below) (as the case may be) unless the contrary is stated.

    Accumulation Shares Shares (of whatever Class) in the Company as may be in issue from time to time in respect of which income allocated thereto is credited periodically to capital pursuant to the FCA Rules

    ACD the authorised corporate director holding office as such from time to time pursuant to the FCA Rules

    Act

    AIFM Regulations

    the Financial Services and Markets Act 2000 as amended from time to time

    the Alternative Investment Fund Managers Regulations 2013 (as amended from time to time);

    base currency the currency in which the accounts of the Company are to be prepared in accordance with clause 20 of this Instrument provided that in the context of the price of a Share, reference to base currency shall be treated as a reference to the currency stated in the Prospectus as being the currency to be used for the purpose in question

    body corporate a body corporate incorporated under the laws of any part of the United Kingdom or any other territory, or an entity that is treated as a body corporate for tax purposes in accordance with the laws of a territory outside the United Kingdom with which arrangements have been entered into with a view to affording relief from double taxation and have effect by virtue of an Order in Council under section 788 of the Income and Corporation Taxes Act 1988 or in accordance with an international agreement

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    containing such arrangements

    Class a class of Income Shares and/or Accumulation Shares as described in clause 23

    COLL a chapter of the COLL Sourcebook

    COLL Sourcebook the Collective Investment Schemes Sourcebook issued by the Financial Conduct Authority as part of their Handbook of rules made under the Act as amended from time to time

    Company Threadneedle UK Property Authorised Investment Fund

    Depositary the person appointed by the Company to whom all the Scheme Property (other than certain Scheme Property designated by the FCA Rules) of the Company is required to be entrusted for safe keeping subject to and in accordance with the OEIC Regulations

    Directors

    EU Regulation

    subject to clause 96 of this Instrument, the directors of the Company for the time being (including the ACD) or, as the case may be, the directors assembled as a board including any committee of such board

    Commission Delegated Regulation (EU) No 231/2013 of 19 December 2012 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to exemptions, general operating conditions, depositaries, leverage, transparency and supervision

    extraordinary resolution a resolution of the Company in an extraordinary general meeting or of a Class meeting (as the case may be) passed by a majority of not less than three-quarters of the votes validly cast (whether on a show of hands or on a poll) for and against the resolution at such meeting

    FCA Rules the rules contained in the Collective Investment Schemes Sourcebook (or “COLL”) and the Investment Funds Sourcebook (or

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    Feeder Fund “FUND”) published by the FCA as part of their Handbook of rules under the Act which shall, for the avoidance of doubt, not include guidance or evidential requirements contained in the said sourcebooks

    Threadneedle UK Property Authorised Trust

    Gross Accumulation Shares Accumulation Shares which are Gross Paying Shares

    Gross Income Shares Income Shares which are Gross Paying Shares