The obligations of the administrator of the approved contractual system under this rule shall not affect the other obligations of the administrator of the contractual system approved under this Regulation or the law. When publishing the long-term annual report referred to in paragraph 7, the authorised contractual system administrator shall write to any person who was a shareholder or the first of the joint shareholders informing them that the long-term annual report is available free of charge upon request. ACS can be established in two legal forms: (i) as approved condominium regimes and (ii) as approved limited partnerships. Both forms are available as UCITS, NURS and QIS. A subdivision of a co-ownership regime may be terminated under this division only if it is solvent. The termination of a Sub-Fund under this section is subject to section 261Q of the Act (Modification of contractual systems and modifications made to the operator or depositary). Termination cannot begin until the proposed amendments to the deed of contract and prospectus have been notified in writing to the FCA and cannot enter into force. In the event of termination, the assets of a Sub-Fund are normally realized and unitholders of the Sub-Fund receive their respective share of the proceeds less liabilities and termination fees. COLL 6.2 (trading), COLL 6.3 (valuation and pricing), COLL 6.6.20R to COLL 6.6.24G (valuation)3 and COLL 5 (investment and credit powers) no longer apply to THE ACS or to the shares and ownership of the program in the case of a subdivision of a condominium program; If the authorised contract system manager has not previously informed the unitholders of the proposal to wind up the ACS or to terminate the sub-fund of the co-ownership system, it shall inform the unitholders in writing of the commencement of the liquidation or termination as soon as possible after the start of the liquidation or termination. Within four months of the end of the last annual accounting year or the end of the sub-fund of the co-ownership system, the annual reports of the manager of the approved contractual system and the depositary shall be published and transmitted to the FCA. the necessary amendments to the deed of contract and the prospectus of the co-ownership system in the event of termination of the Sub-Fund in accordance with Article 261Q (Modification of the contractual systems and modifications of the operator or depositary) of the Act; An FCC may be settled under this Article only if it is solvent. Pursuant to Section 261W of the Act (Applications for Revocation of Order of Approval), the Authorized Contractual System Administrator or custodian of a TISA may apply to the FCA to revoke the order of approval in relation to that ACS. The FCA may then announce that it will accept this request, provided that no relevant factors change.
Section 261X of the Act (Direction) gives the FCA the power to issue certain directions. The tax referred to in paragraph 1 shall apply to all obligations of which the administrator of the approved contractual system: The authorised administrator of the contractual system must cease to organise the issue or cancellation of shares in accordance with COLL 6.2.7 R (issue and cancellation of shares by an authorised fund manager), except for the final cancellation in accordance with COLL 7.4A.6R (1) or (2); Where the depositary and one or more shareholders agree, the requirement laid down in paragraph 2 for the realisation of the assets of the scheme shall not apply to that part of the assets which is proportionate to the claims of that shareholder or shareholders. .