Section 237(4)

In this Part, references to a sub-fund of a UCITS are references to a part of the property of the UCITS which forms a separate pool where— the UCITS provides arrangements for separate pooling of the contributions of the participants and the profits and income out of which payments are made to them; and the participants are entitled to exchange rights in one pool for rights in another.

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