Section 235A(4)

The deed— must contain a statement that the arrangements are intended to constitute a co-ownership scheme as defined in section 235A of the Financial Services and Markets Act 2000; must make provision for the issue and redemption of units; must— prohibit the transfer of units, allow units to be transferred only if specified conditions are met, or where the arrangements constituting the scheme provide for such pooling as is mentioned in section 235(3)(a) in relation to separate parts of the property, in relation to each separate part make provision falling within sub-paragraph (i) or (ii); must authorise the operator— to acquire, manage and dispose of property subject to the scheme; and to enter into contracts which are binding on participants for the purposes of, or in connection with, the acquisition, management or disposal of property subject to the scheme; and must make provision requiring the operator and depositary to wind up the scheme in specified circumstances.

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Source: legislation.gov.uk · retrieved 2026-09-04