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Section 248: Scheme particulars rules.

Financial Services and Markets Act 2000 · 2000 c. 8View on legislation.gov.uk

Part XVII: Collective Investment Schemes — Chapter III: Authorised Unit Trust Schemes

The FCA may make rules ("scheme particulars rules") requiring the manager of an authorised unit trust scheme—

to submit scheme particulars to the FCA; and
to publish scheme particulars or make them available to the public on request.

"Scheme particulars" means particulars in such form, containing such information about the scheme and complying with such requirements, as are specified in scheme particulars rules.

Scheme particulars rules may require the manager of an authorised unit trust scheme to submit, and to publish or make available, revised or further scheme particulars if there is a significant change affecting any matter—

which is contained in scheme particulars previously published or made available; and
whose inclusion in those particulars was required by the rules.

Scheme particulars rules may require the manager of an authorised unit trust scheme to submit, and to publish or make available, revised or further scheme particulars if—

a significant new matter arises; and
the inclusion of information in respect of that matter would have been required in previous particulars if it had arisen when those particulars were prepared.

Scheme particulars rules may provide for the payment, by the person or persons who in accordance with the rules are treated as responsible for any scheme particulars, of compensation to any qualifying person who has suffered loss as a result of—

any untrue or misleading statement in the particulars; or
the omission from them of any matter required by the rules to be included.

"Qualifying person" means a person who—

has become or agreed to become a participant in the scheme; or
although not being a participant, has a beneficial interest in units in the scheme.

Scheme particulars rules do not affect any liability which any person may incur apart from the rules.

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This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.