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Number 37 of 1990
UNIT TRUSTS ACT, 1990
ARRANGEMENT OF SECTIONS
Acts Referred to | |
Petty Sessions (Ireland) Act, 1851 | 1851, c. 93 |
1933, No. 25 | |
1963, No. 33 | |
1971, No. 24 | |
1972, No. 17 | |
1972, No. 27 | |
1989, No. 16 | |
1989, No. 21 | |
Number 37 of 1990
UNIT TRUSTS ACT, 1990
Interpretation.
1.—(1) In this Act, unless the context otherwise requires—
“the Act of 1972” means the Unit Trusts Act, 1972;
“authorised unit trust scheme” means a unit trust scheme which is authorised by the Bank under section 4 and “authorisation”, in relation to a unit trust scheme, shall be construed accordingly;
“the Bank” means the Central Bank of Ireland;
“company” means a company within the meaning of the Companies Act, 1963, or a company incorporated in the State by statute or charter;
“contravention” includes, in relation to any provision, a failure to comply with that provision, and “contravene” shall be construed accordingly;
“debentures” means any debentures, debenture stock or bonds of any body corporate, incorporated in or outside the State, whether constituting a charge on the assets of the body or not;
“the European Communities” has the same meaning as in section 1 of the European Communities Act, 1972;
“holding company” has the same meaning as in the Companies Act, 1963;
“the Minister” means the Minister for Industry and Commerce;
“the register” means the register established and maintained under section 3;
“securities” means—
(a) shares or debentures, or rights or interests (whether described as units or otherwise) in any shares or debentures, or
(b) securities of the Government or the government of any country or territory outside the State, or
(c) rights (whether actual or contingent) in respect of money lent to, or deposited with, any holder of a licence under section 9 of the Central Bank Act, 1971, industrial and provident society, friendly society, building society, the Agricultural Credit Corporation public limited company, the company formed and registered by virtue of section 2 of the Industrial Credit Act, 1933, the Post Office Savings Bank or any trustee savings bank (within the meaning of the Trustee Savings Banks Act, 1989);
“shares” means shares in the share capital of a body corporate or stock of a body corporate;
“subsidiary” has the same meaning as in the Companies Act, 1963;
“trust deed” means the deed in which are expressed the trust or trusts created in pursuance of a unit trust scheme and references to the trust deed of a unit trust scheme shall be construed accordingly;
“the UCITS Regulations” means the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations, 1989 (S.I. No. 78 of 1989);
“unit-holder” means the holder of one or more units of a unit trust scheme and references to a unit-holder in such a scheme shall be construed accordingly;
“units”, in relation to a unit trust scheme, means any units (whether described as units or otherwise) into which are divided the beneficial interests in the assets subject to any trust created under the scheme;
“unit trust scheme” means any arrangement made for the purpose, or having the effect, of providing facilities for the participation by the public, as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property whatsoever.
(2) Any reference in this Act to a management company under a unit trust scheme or to a trustee under such a scheme shall be construed as a reference to the person in whom are vested the powers of management relating to property for the time being subject to any trust created in pursuance of the scheme or, as the case may be, to the person in whom such property is or may be vested in accordance with the terms of the trust.
(3) Any reference in this Act to an authorisation, in relation to a unit trust scheme, standing revoked under this Act shall be construed as a reference to an authorisation standing revoked under Regulation 102 (as adapted by section 15) of the UCITS Regulations.
(4) For the purposes of the adaptation by section 15 of certain provisions of the UCITS Regulations to unit trust schemes, the said provisions shall be construed as one with this Act.
(5) In this Act—
(a) a reference to a section is to a section of this Act and a reference to a subsection is to the subsection of the section in which the reference occurs, unless it is indicated that reference to some other provision is intended;
(b) a reference to any other enactment shall, unless the context otherwise requires, be construed as a reference to that enactment as amended or adapted by or under any other enactment, including this Act.
Non-application of this Act to certain undertakings.
2.—The provisions of this Act shall not apply to an undertaking for collective investment in transferable securities (within the meaning of the UCITS Regulations) that is authorised under those Regulations or by a competent authority in another member state of the European Communities in accordance with Council Directive 85/611/EEC of 20th December, 1985 1 (as amended by Council Directive 88/220/EEC of 22nd March, 19882 ).
Register of authorised unit trust schemes.
3.—(1) The Bank shall establish and maintain a register of authorised unit trust schemes.
(2) The register shall be open to the inspection of any member of the public on the payment of such fee as the Bank may specify.
(3) The register established and maintained under section 2 of the Act of 1972 (repealed by this Act) shall form part of the register.
(4) The Bank shall, within 21 days after the date of the authorisation by it under section 4 of a unit trust scheme, publish a notice to that effect in Iris Oifigiúil.
(5) The Bank shall publish from time to time, but not less frequently than once a year, in such manner as it thinks fit, the names of all unit trust schemes which have been authorised by it under section 4 and whose authorisation has not been revoked under this Act.
(6) The report of the Bank under section 20 of the Central Bank Act, 1989, shall contain a report on the exercise of its functions under this Act.
Authorisation of unit trust schemes.
4.—(1) Upon application to the Bank in accordance with this section by the management company and trustee under a unit trust scheme, the Bank shall authorise the scheme if, but only if—
(a) the Bank is satisfied that the competence of the management company and trustee in respect of matters of the kind with which they would be concerned in relation to a unit trust scheme and their probity are such as to render them suitable to act as management company and trustee, respectively, under the scheme,
(b) the management company under the scheme is a body corporate that is incorporated under the law of the State or any other member state of the European Communities, has, in the opinion of the Bank, sufficient financial resources at its disposal to enable it to conduct its business effectively and meet its liabilities and will be in a position to comply with any conditions imposed by the Bank under section 5,
(c) the trustee under the scheme is a body corporate that is incorporated under the law of the State or any other member state of the European Communities and—
(i) has, in the opinion of the Bank, sufficient financial resources at its disposal to enable it to conduct its business effectively and meet its liabilities,
(ii) will be in a position to comply with any conditions imposed by the Bank under section 5, and
(iii) has satisfied the Bank that it has the appropriate expertise and experience to carry out its functions under this Act,
(d) the Bank is satisfied that the scheme is such that the effective control over the affairs of the management company and of the trustee under the scheme will be exercised independently of one another,
(e) the Bank is satisfied that the scheme is such as to secure that every trust created in pursuance of the scheme is expressed in a deed which complies with the provisions of this Act and that the deed contains a covenant providing that the scheme will be carried on in compliance with the provisions of this Act,
(f) a copy of the deed aforesaid is deposited with the Bank, and
(g) the name of the scheme is not, in the opinion of the Bank, undesirable.
(2) The Minister may direct the Bank to make any authorisation by it under this section subject to the imposition by it of conditions or requirements specified in his direction (being conditions or requirements which relate to such matters, which the Minister is satisfied, after consultation with the Minister for Finance and the Bank, do not constrain the prudential supervision by the Bank of a scheme) and, accordingly, the Bank shall make such authorisation subject to every condition or requirement so specified.
(3) A direction under subsection (2) may relate to unit trust schemes generally, schemes of a particular class or a particular scheme.
(4) The management company and trustee under an authorised unit trust scheme shall comply with any conditions or requirements imposed by the Bank under subsection (2) and which are applicable to that scheme.
(5) An application for the authorisation of a unit trust scheme shall be made in writing and shall contain such information as the Bank may specify for the purpose of determining the application (including such additional information as the Bank may specify in the course of determining the application).
(6) The authorisation of a unit trust scheme by the Bank shall not constitute a warranty by the Bank as to the performance of the scheme and the Bank shall not be liable for the performance or default of the scheme.
Powers of Bank.
5.—(1) Notwithstanding any other powers which may be available to the Bank under any other enactment, the Bank may impose such conditions for the authorisation of a unit trust scheme under section 4 as it considers appropriate and prudent for the purposes of the orderly and proper regulation of the business of unit trust schemes.
(2) The power to impose conditions referred to in subsection (1) shall include power to impose such conditions from time to time in respect of the manner in which the business of a unit trust scheme authorised under section 4 shall be operated as the Bank considers appropriate and prudent for the purposes referred to in subsection (1).
(3) Conditions imposed under this section may be imposed generally or on a particular unit trust scheme, or by reference to particular classes of scheme, or by reference to any other matter the Bank considers appropriate and prudent for the purposes referred to in subsection (1).
(4) Without prejudice to the generality of subsections (1), (2) and (3), conditions imposed by the Bank on a unit trust scheme may make provision for any or all of the following matters—
(a) the prudential requirements of the investment policies of the scheme,
(b) borrowing policies of the scheme,
(c) prospectuses and other information disseminated in relation to the scheme,
(d) such other supervisory and reporting requirements and conditions relating to its business.
(5) The Bank may amend or revoke a condition imposed by it under this section.
(6) The management company and trustee under an authorised unit trust scheme shall comply with any conditions imposed by the Bank under this section and which are applicable to that scheme.
Refusal of authorisation.
6.—(1) Where the Bank decides to refuse authorisation of a unit trust scheme under section 4 it shall notify the management company and trustee under the scheme of its decision and of the reasons therefor. The management company or trustee may apply to the High Court in accordance with Regulation 105 (as adapted by section 15) of the UCITS Regulations.
(2) The management company or trustee shall have the same right to apply to the High Court as in subsection (1) if a decision on authorisation under section 4 has not been taken by the Bank within 6 months of the submission of an application for authorisation which includes the information, other than any additional information, specified by the Bank under subsection (5) of that section.
Alteration in trust deed of, or change in name of, authorised unit trust scheme.
7.—(1) No alteration in the trust deed of an authorised unit trust scheme or change in the name of such scheme shall be made without the approval of the Bank and any person who makes an alteration or change as aforesaid without such approval shall be guilty of an offence.
(2) Within 21 days after the making of an alteration in the trust deed of an authorised unit trust scheme or a change in the name of such scheme the management company under the scheme shall deposit with the Bank a copy of the deed as so altered or containing the alterations or (as the case may be) particulars of the change in name.
(3) Where the management company under an authorised unit trust scheme fails to comply with subsection (2), it shall be guilty of an offence.
Replacement of management company or trustee.
8.—(1) Neither the management company nor the trustee under an authorised unit trust scheme may be replaced by another management company or trustee (as the case may be) without the approval of the Bank.
(2) The trust deed of an authorised unit trust scheme shall specify the conditions under which there may be effected, and the procedure to be followed with respect to, the replacement of the management company or trustee under the scheme with another management company or trustee (including such a replacement by the Bank under subsection (3)) and shall contain provisions to ensure the protection of unit-holders in the event of any such replacement.
(3) The Bank may, where it appears to it to be desirable in the interests of unit-holders or potential unit-holders in an authorised unit trust scheme to do so, replace the management company or trustee under the scheme with another management company or trustee.
(4) Where the Bank proposes to replace a management company or trustee under subsection (3) it shall give the management company or trustee, as the case may be, notice of its intention to do so, which notice shall contain a statement of the reasons for which the Bank proposes to act and of the right of the management company or trustee (as the case may be) under subsection (5) to make representations.
(5) A management company or trustee which is given a notice under subsection (4) may, within 30 days of the date on which the notice is given, make written representations to the Bank.
(6) The Bank shall have regard to any representations made to it in accordance with subsection (5) in determining whether to replace the management company or trustee.
(7) The management company or trustee (as the case may be) may apply to the High Court in accordance with Regulation 105 (as adapted by section 15) of the UCITS Regulations where the Bank replaces the management company or trustee under this section.
(8) Upon the replacement by the Bank under this section of a management company or trustee under an authorised unit trust scheme, that management company or trustee (as the case may be) shall cease to hold office as management company or trustee under the scheme and, in either case, its powers and duties under the scheme shall be exercised and carried out by the new management company or trustee (as the case may be).
Prohibition of the sale or purchase of units of unauthorised unit trust schemes and certain like schemes.
9.—(1) The management company or trustee (if any) under, or any person concerned with the management or supervision of—
(a) a unit trust scheme (other than a scheme to which subsection (2) applies) that is not an authorised unit trust scheme, or
(b) a scheme which is an arrangement of a kind (not being an arrangement to which subsection (2) applies) made for the purpose, or having the effect, solely or mainly, of providing facilities for the participation by the public, as beneficiaries (otherwise than under a trust or through membership of a company, a building society, a friendly society or an industrial and provident society) in profits or income arising from the acquisition, holding, management or disposal of securities or any other property whatsoever,
shall not, without the approval of the Bank (which approval may be subject to such conditions as the Bank thinks fit to impose) sell or purchase units of the scheme or make solicitation in respect of such sale or purchase.
(2) This subsection applies to a unit trust scheme or an arrangement which is made for the purpose or has the effect, solely or mainly, of providing facilities for the participation by the public, as beneficiaries under a trust, or (in the case of an arrangement) otherwise than under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property whatsoever and which is administered by the holder of an authorisation under the European Communities (Life Assurance) Regulations, 1984 (S.I. No. 57 of 1984), and for participation in which a policy of assurance upon human life is required to be effected.
(3) The prohibition contained in subsection (1) does not apply to the purchase from a unit-holder of units of a unit trust scheme the authorisation of which under this Act stands revoked.
(4) A person who sells or purchases units, or makes a solicitation in respect of such sale or purchase, in contravention of subsection (1) (whether because the approval of the Bank under that subsection has not been obtained in respect thereof or because any condition to which the approval is subject has not been complied with) shall be guilty of an offence.
Prohibition of certain advertising in relation to unauthorised unit trust schemes and certain like schemes.
10.—(1) There shall not be published or communicated, without the approval of the Bank (which approval may be subject to such conditions as the Bank thinks fit to impose) advertisements in relation to or referring to a scheme to which paragraph (a) or (b) of section 9 (1) applies.
(2) (a) Whenever it is shown to the satisfaction of the Bank, in the case of a newspaper or magazine printed outside the State that, in the opinion of the Bank, has only a small circulation in the State, that compliance with this section would necessitate the production for circulation in the State of a special edition of the newspaper or magazine and that the cost of such production would impose a burden on the owner of the newspaper or magazine that would be unreasonably heavy in all the circumstances, the Bank may exempt from the application of this section advertisements published in the newspaper or magazine.
(b) An exemption under this subsection shall be subject to such conditions, if any, as the Bank may impose and specify in the exemption and its duration shall be either without limit as to time or for such period as the Bank may specify in the exemption.
(c) The Bank may revoke an exemption under this subsection, impose conditions to which such an exemption previously granted shall be subject, amend any conditions specified in such an exemption, specify, in relation to such an exemption whose duration is without limit as to time, a time for its expiration or vary the period of duration of such an exemption.
(d) Whenever the Bank exercises a power under this subsection, notice of such exercise and its nature and the name of the newspaper or magazine to which it relates shall be published in Iris Oifigiúil.
(3) Where an advertisement is published or communicated in contravention of subsection (1) (whether because the approval of the Bank under subsection (1) or an exemption by it under subsection (2) has not been obtained in respect thereof or because any condition to which the approval or exemption is subject has not been complied with) the person who publishes or communicates the advertisement and any person who procures such publishing or communication shall each be guilty of an offence.
(4) In this section “advertisement” includes every form of recommendation of any matter to which this section relates, including in particular the display or publication of any such matter by way of leaflet, notice, circular, pamphlet, brochure, photograph, film, video, sound broadcasting, television, electronic communication or personal canvassing.
Assets of unit trust schemes.
11.—(1) The proceeds of the sale by the management company under a unit trust scheme of any units of the scheme and any income in respect of the assets of the scheme that is not distributed to the unit-holders in the scheme shall be assets of the scheme and be subject to and be dealt with by the management company in accordance with the trusts created under the scheme.
(2) Subsection (1) shall not apply to the sale by a management company of units of a unit trust scheme purchased by it on its own account to the extent that the Bank may specify in a condition imposed by it under section 5.
(3) A management company which contravenes the provisions of subsection (1) shall be guilty of an offence.
Obligation on management companies under unit trust schemes to purchase units.
12.—(1) Subject to Regulation 63 (as adapted by section 15) of the UCITS Regulations and subsection (2), whenever the unit-holder in an authorised unit trust scheme, or in a scheme the authorisation of which stands revoked under this Act, so requests, the management company under the scheme shall, as soon as may be, purchase such number of the units of the scheme held by the unit-holder as that person may specify at the price for the time being at which the management company purchases units of the scheme.
(2) Subsection (1) shall not apply to the extent that the Bank may specify in a condition imposed by it under section 5.
(3) A management company which contravenes subsection (1) shall be guilty of an offence.
Prohibition of certain transactions and making of certain profits by management companies under unit trust schemes and by certain other persons.
13.—(1) Neither a management company under a unit trust scheme nor, where the management company is a body corporate, a subsidiary or a holding company of that body or a subsidiary of the holding company of that body or a director or person engaged in the management of such body or company, shall carry out transactions for itself or himself, or make a profit for itself or himself from transactions, in any assets held under the scheme.
(2) A management company or a trustee under a unit trust scheme (not being a unit trust scheme to which section 9 (2) applies) or, where the management company or trustee is a body corporate, a subsidiary or a holding company of that body, or a subsidiary of the holding company of that body, shall not—
(a) borrow money on behalf of the scheme for the purpose of acquiring securities or other property for the scheme, or
(b) lend money that is subject to the trusts of the scheme to a person to enable him to purchase units of the scheme, or
(c) mortgage or charge, or impose any other incumbrance on, any securities or other property subject to the trusts of the scheme.
(3) Subsection (1) or (2) shall not apply to the extent that the Bank may specify in a condition imposed by it under section 5.
(4) Subsection (2) shall not have effect with respect to a trustee under a unit trust scheme to which that subsection applies or, where such trustee is a body corporate, a subsidiary or a holding company of that body, or a subsidiary of the holding company of that body, until the day which is 3 months after the date of passing of this Act.
(5) A person who contravenes this section shall be guilty of an offence.
Liability of trustees under authorised unit trust schemes.
14.—(1) Any provision in the trust deed of an authorised unit trust scheme shall be void in so far as it would have the effect of exempting the trustee under the scheme from, or indemnifying him against, liability for breach of trust where, having regard to the provisions of the trust deed conferring on him any powers, authorities or discretions, he fails to show the degree of care and diligence required of him as trustee.
(2) Subsection (1) shall not invalidate—
(a) any release otherwise validly given in respect of anything done or omitted to be done by a trustee before the giving of the release; or
(b) any provision enabling such a release to be given—
(i) on the agreement thereto of a majority of unit-holders holding not less than 75 per cent. in value of the units in issue of the unit trust scheme concerned present and voting in person or, where proxies are permitted, by proxy at a meeting summoned for the purpose, and
(ii) either with respect to specific acts or omissions or on the trustee dying or ceasing to act.
(3) Subsection (1) shall not operate—
(a) to invalidate any provision in force on the 15th day of June, 1973, so long as any person then entitled to the benefit of that provision or afterwards given the benefit thereof under subsection (4) remains a trustee of the deed in question; or
(b) to deprive any person of any exemption or right to be indemnified in respect of anything done or omitted to be done by him while any such provision was in force.
(4) While any trustee of a trust deed remains entitled to the benefit of a provision saved by subsection (3), the benefit of that provision may be given either—
(a) to all trustees of the deed, present and future; or
(b) to any named trustee or proposed trustees thereof;
by a resolution passed by a majority of unit-holders holding not less than 75 per cent. in value of the units in issue of the unit trust scheme concerned present in person or, where proxies are permitted, by proxy at a meeting summoned for the purpose in accordance with the provisions of the deed or, if the deed makes no provision for summoning meetings, a meeting summoned for the purpose in any manner approved by the High Court.
Adaptation of certain provisions of UCITS Regulations.
15.—(1) Regulations 63, 75 to 83 and 99 to 105 of the UCITS Regulations shall apply to an authorised unit trust scheme as they apply to the bodies to which those Regulations relate subject to the following modifications and any other necessary modifications—
(a) a reference in those Regulations to a term or expression specified in the second column of the Table to this section at any reference number shall be construed, where the context admits, as a reference to the term or expression specified in the third column of the said Table at that reference number, and
(b) references to cognate terms or expressions in those Regulations shall be construed accordingly;
(c) references to—
(i) “the articles” and “the Directive” in those Regulations, and
(ii) the words “and the other information provided for in Annex B to these Regulations” in Regulation 77 and the first sentence of Regulation 78 of those Regulations,
shall be disregarded and the said Regulation 78 shall have effect as if there were inserted after “the figures”, “in the half-yearly report”; and
(d) Regulation 105 of those Regulations shall have effect as if there were inserted after “revokes or refuses to revoke an authorisation”, “or replaces a management company or trustee under a unit trust scheme”.
(2) In subsection (1) “authorised unit trust scheme” includes a scheme the authorisation of which stands revoked under Regulation 102 (as adapted by this section) of the UCITS Regulations.
TABLE
Ref. No. | Term or expression referred to in UCITS Regulations | Construction of term or expression for purposes of this section |
(1) | (2) | (3) |
1. | “Regulation 14” | “section 6 of the Unit Trusts Act, 1990,” |
2. | “Regulation 59” | “section 12 of the Unit Trusts Act, 1990,” |
3. | “these Regulations” | “the Unit Trusts Act, 1990,” |
4. | “repurchase” | “purchase” |
5. | “UCITS” | “unit trust scheme” |
Offences in relation to certain bodies.
16.—Where an offence under this Act is committed by a body corporate and is proved to have been so committed with the consent or approval of, or to have been facilitated by any wilful neglect on the part of any person being a director, manager, secretary, member of any committee of management or other controlling authority of such body or official of such body, that person shall also be guilty of an offence.
Offences under provisions of this Act and UCITS Regulations.
17.—A person who contravenes any provision of this Act or of the UCITS Regulations (as adapted by section 15) and for which contravention no offence is created by any other provision of this Act shall be guilty of an offence.
Penalties.
18.—(1) A person guilty of an offence under this Act shall be liable—
(a) on summary conviction to a fine not exceeding £1,000 or to imprisonment for a term not exceeding 12 months or to both such fine and imprisonment, or
(b) on conviction on indictment to a fine not exceeding £10,000 or to imprisonment for a term not exceeding 5 years or to both such fine and imprisonment,
and, if the contravention in respect of which he is convicted of an offence under this Act is continued after the conviction, he shall be guilty of a further offence on every day on which the contravention continues and for each such offence he shall be liable on summary conviction to a fine not exceeding £250 or, on conviction on indictment, to a fine not exceeding £1,000.
(2) Summary proceedings in relation to an offence under this Act may be brought and prosecuted by the Director of Public Prosecutions or the Bank.
(3) Notwithstanding section 10 (4) of the Petty Sessions (Ireland) Act, 1851, summary proceedings for an offence under this Act may be instituted within 3 years from the date of the offence.
Expenses of Minister.
19.—The expenses incurred by the Minister in the administration of this Act shall, to such extent as may be sanctioned by the Minister for Finance, be paid out of moneys provided by the Oireachtas.
Repeal of Unit Trusts Act, 1972, and consequential provisions.
20.—(1) The Act of 1972 is hereby repealed.
(2) Any unit trust scheme which, immediately before the passing of this Act, was a registered unit trust scheme under the Act of 1972 shall be deemed to be an authorised unit trust scheme and the provisions of this Act shall, subject to subsection (3), apply, accordingly, to such scheme.
(3) Section 8 (2) shall not have effect with respect to a unit trust scheme referred to in subsection (2) until the day which is 3 months after the date of the passing of this Act.
(4) The Minister and the registrar of companies shall, on the passing of this Act, to such extent as may be required by the Bank, transfer all documents and records relative to unit trust schemes registered under the Act of 1972 in their possession to the Bank.
Short title.
21.—This Act may be cited as the Unit Trusts Act, 1990.
Uimhir 37 de 1990
AN tACHT UM IONTAOBHAIS AONAD, 1990
RIAR NA nALT
Alt | |
1. | |
2. | |
3. | |
4. | |
5. | |
6. | |
7. | Athrú ar ghníomhas iontaobhais, nó athrú ar ainm, scéime iontaobhais aonad údaraithe. |
8. | |
9. | |
10. | |
11. | |
12. | |
13. | |
14. | Dliteanas iontaobhaithe faoi scéimeanna iontaobhais aonad údaraithe. |
15. | |
16. | |
17. | Cionta faoi fhorálacha an Achta seo agus faoi Rialacháin UCITS. |
18. | |
19. | |
20. | Aisghairm an Achta um Iontaobhais Aonad, 1972, agus forálacha iarmhartacha. |
21. |
Na hAchtanna dá dTagraítear | |
Petty Sessions (Ireland) Act, 1851 | 1851, c. 93 |
Uimhir 37 de 1990
AN tACHT UM IONTAOBHAIS AONAD, 1990
[An tiontú oifigiúil]
ACHT DO DHÉANAMH SOCRÚ NUA, AR MHAITHE LE LEAS AN PHOBAIL AGUS LE SEALBHÓIRÍ AR AONAID DE CHUID SCÉIMEANNA IONTAOBHAIS AONAD, CHUN NA SCÉIMEANNA SIN A RIALÚ AGUS A RIAL-ÁIL, DÁ THOIRMEASC IN IMTHOSCA ÁIRITHE NA SCÉIMEANNA SIN, NÓ SCÉIMEANNA COMHCHIN-EÁLACHA, A FHÓGAIRT AGUS AONAID DÁ gCUID A DHÍOL NÓ A CHEANNACH, D'AISGHAIRM AN ACHTA UM IONTAOBHAIS AONAD, 1972, AGUS DO DHÉAN-AMH SOCRÚ I dTAOBH NITHE EILE A BHAINEANN LEIS NA NITHE RÉAMHRÁITE. [26 Nollaig, 1990]
ACHTAÍTEAR AG AN OIREACHTAS MAR A LEANAS:
Léiriú.
1.—(1) San Acht seo, mura n-éilíonn an comhthéacs a mhalairt—
ciallaíonn “Acht 1972” an tAcht um Iontaobhais Aonad, 1972;
ciallaíonn “scéim iontaobhais aonad údaraithe” scéim iontaobhais aonad atá údaraithe ag an mBanc faoi alt 4 agus déanfar “údarú”, i ndáil le scéim iontaobhais aonad, a fhorléiriú dá réir sin;
ciallaíonn “an Banc” Banc Ceannais na hÉireann;
ciallaíonn “cuideachta” cuideachta de réir bhrí Acht na gCuideachtaí, 1963, nó cuideachta a corpraíodh sa Stát le reacht nó le cairt;
folaíonn “sárú”, i ndáil le haon fhoráil, mainneachtain déanamh de réir na forála sin, agus déanfar “sáraigh” a fhorléiriú dá réir sin;
ciallaíonn “bintiúir” aon bhintiúir, stoc bintiúir nó bannaí de chuid aon chomhlachta chorpraithe, atá corpraithe sa Stát nó lasmuigh den Stát, cibé acu atá siad ina muirear ar shócmhainní an chomhlachta nó nach bhfuil;
tá le “na Comhphobail Eorpacha” an bhrí chéanna atá leis in alt 1 d'Acht na gComhphobal Eorpach, 1972;
tá le “cuideachta shealbhaíochta” an bhrí chéanna atá leis in Acht na gCuideachtaí, 1963;
ciallaíonn “an tAire” an tAire Tionscail agus Tráchtála;
ciallaíonn “an clár” an clár arna bhunú agus arna chothabháil faoi alt 3;
ciallaíonn “urrúis”—
(a) scaireanna nó bintiúir, nó cearta nó leasanna (cibé acu is mar aonaid nó ar shlí eile a thuairiscítear iad) in aon scaireanna nó bintiúir, nó
(b) urrúis de chuid an Rialtais nó de chuid rialtas aon tíre nó críche lasmuigh den Stát, nó
(c) cearta (iarbhír nó teagmhasach) i leith airgead a tugadh ar iasacht d'aon sealbhóir ceadúnais faoi alt 9 d'Acht an Bhainc Ceannais, 1971, d'aon chumann tionscail agus coigiltis, d'aon chara-chumann, d'aon chumann foirgníochta, do Chorparáid an Chairde Talmhaíochta cuideachta phoiblí theoranta, don chuideachta a foirmíodh agus a cláraíodh de bhua alt 2 den Acht Cáirde Tionnscail, 1933, do Bhanc Taisce an Phoist nó d'aon bhanc taisce iontaobhais (de réir bhrí an Achta um Bainc Thaisce Iontaobhais, 1989) nó a taisceadh le haon cheann acu sin;
ciallaíonn “scaireanna” scaireanna i scairchaipiteal comhlachta chorpraithe nó i stoc comhlachta chorpraithe;
tá le “fochuideachta” an bhrí chéanna atá leis in Acht na gCuideachtaí, 1963;
ciallaíonn “gníomhas iontaobhais” an gníomhas ina sainítear an t-iontaobhas nó na hiontaobhais a cruthaíodh de bhun scéime iontaobhais aonad agus déanfar tagairtí do ghníomhas iontaobhais scéime iontaobhais aonad a fhorléiriú dá réir sin;
ciallaíonn “Rialacháin UCITS” Rialacháin na gComhphobal Eorpach (Gnóthais le haghaidh Comhinfheistíochta in Urrúis Inaistrithe), 1989 (I.R. Uimh. 78 de 1989);
ciallaíonn “sealbhóir aonad” an sealbhóir ar aonad amháin nó níos mó de scéim iontaobhais aonad agus déanfar tagairtí do shealbhóir aonad i scéim den sórt sin a fhorléiriú dá réir sin;
ciallaíonn “aonaid”, i ndáil le scéim iontaobhais aonad, aon aonaid (cibé acu is mar aonaid nó ar shlí eile a thuairiscítear iad) a bhfuil na leasanna tairbhiúla sna sócmhainní roinnte iontu faoi réir aon iontaobhais a cruthaíodh faoin scéim;
ciallaíonn “scéim iontaobhais aonad” aon chomhshocraíocht a dhéantar chun saoráidí a sholáthar, nó arb é is éifeacht di saoráidí a sholáthar, le go mbeadh an pobal páirteach, mar thairbhithe faoi iontaobhas, i mbrabúis nó in ioncam as urrúis nó as maoin ar bith eile a fháil, a shealbhú, a bhainistiú nó a dhiúscairt.
(2) Déanfar aon tagairt san Acht seo do chuideachta bhainisteoireachta faoi scéim iontaobhais aonad nó d'iontaobhaí faoi scéim den sórt sin a fhorléiriú mar thagairt don duine a ndílsítear dó na cumhachtaí bainisteoireachta i ndáil le maoin atá, de thuras na huaire, faoi réir aon iontaobhais a cruthaíodh de bhun na scéime nó, de réir mar a bheidh, don duine a ndílsítear an mhaoin sin dó nó ar féidir í a dhílsiú dó de réir théarmaí an iontaobhais.
(3) Aon tagairt san Acht seo d'údarú, i ndáil le scéim iontaobhais aonad, arna chúlghairm faoin Acht seo forléireofar í mar thagairt d'údarú arna chúlghairm faoi Rialachán 102 (arna oiriúnú le halt 15) de Rialacháin UCITS.
(4) Chun críocha forálacha áirithe de Rialacháin UCITS a chur in oiriúint, le halt 15, do scéimeanna iontaobhais aonad, forléireofar na forálacha sin mar aon ní amháin leis an Acht seo.
(5) San Acht seo—
(a) aon tagairt d'alt is tagairt í d'alt den Acht seo agus aon tagairt d'fho-alt is tagairt í don fho-alt den alt ina bhfuil an tagairt, mura gcuirtear in iúl gur tagairt d'fhoráil éigin eile atá beartaithe;
(b) déanfar tagairt d'aon achtachán eile a fhorléiriú, mura n-éilíonn an comhthéacs a mhalairt, mar thagairt don achtachán sin arna leasú nó arna oiriúnú le haon nó faoi aon achtachán eile, lena n-áirítear an tAcht seo.
Neamhfheidhm an Achta seo maidir le gnóthais áirithe.
2.—Ní bheidh feidhm ag forálacha an Achta seo maidir le gnóthas le haghaidh comhinfheistíochta in urrúis inaistrithe (de réir bhrí Rialacháin UCITS) atá údaraithe faoi na Rialacháin sin nó ag údarás inniúil i mballstát eile de chuid na gComhphobal Eorpach de réir Threoir 85/611/CEE ón gComhairle dar dháta 20 Nollaig, 19851 (arna leasú le Treoir 88/220/CEE ón gComhairle dar dháta 22 Márta, 19882).
Clár de scéimeanna iontaobhais aonad údaraithe.
3.—(1) Bunóidh an Banc agus cothabhálfaidh sé clár de scéimeanna iontaobhais aonad údaraithe.
(2) Beidh an clár ar fáil lena iniúchadh d'aon chomhalta den phobal ar é d'íoc cibé táille a shonróidh an Banc.
(3) Beidh an clár a bunaíodh agus a chothabháiltear faoi alt 2 d'Acht 1972 (a aisghairtear leis an Acht seo) ina chuid den chlár.
(4) Déanfaidh an Banc, laistigh de 21 lá tar éis an dáta a n-údaróidh sé scéim iontaobhais aonad faoi alt 4, fógra chuige sin a fhoilsiú san Iris Oifigiúil.
(5) Foilseoidh an Banc ó am go ham, ach uair sa bhliain ar a laghad, i cibé caoi is cuí leis, ainmneacha na scéimeanna iontaobhais aonad go léir atá údaraithe aige faoi alt 4 agus nach bhfuil a n-údarú cúlghairthe faoin Acht seo.
(6) Beidh ar áireamh i dtuarascáil an Bhainc faoi alt 20 d'Acht an Bhainc Ceannais, 1989, tuairisc ar fheidhmiú a fheidhmeanna faoin Acht seo.
Scéimeanna iontaobhais aonad a údarú.
4.—(1) Ar iarratas a bheith déanta chun an Bhainc de réir an ailt seo ag an gcuideachta bhainisteoireachta agus ag an iontaobhaí faoi scéim iontaobhais aonad, údaróidh an Banc an scéim más rud é, agus ar an gcoinníoll amháin—
(a) go mbeidh an Banc sásta go bhfuil inniúlacht na cuideachta bainisteoireachta agus an iontaobhaí i leith nithe den sórt a mbeadh plé acu leo i ndáil le scéim iontaobhais aonad, agus a n-ionracas, de chineál a thabharfadh go mbeidís oiriúnach chun gníomhú mar chuideachta bhainisteoireachta agus mar iontaobhaí, faoi seach, faoin scéim,
(b) gurb é is cuideachta bhainisteoireachta faoin scéim comhlacht corpraithe atá corpraithe faoi dhlí an Stáit nó aon bhallstáit eile de chuid na gComhphobal Eorpach, gur leor, i dtuairim an Bhainc, na hacmhainní airgeadais atá ar fáil dó chun a chumasú dó a chuid gnó a sheoladh go héifeachtach agus freastal dá dhliteanais, agus go mbeidh sé in ann aon choinníollacha a fhorchuirfidh an Banc faoi alt 5 a chomhlíonadh,
(c) gurb é is iontaobhaí faoin scéim comhlacht corpraithe atá corpraithe faoi dhlí an Stáit nó aon bhallstáit eile de chuid na gComhphobal Eorpach agus—
(i) gur leor, i dtuairim an Bhainc, na hacmhainní airgeadais atá ar fáil dó chun a chumasú dó a chuid gnó a sheoladh go héifeachtach agus freastal dá dhliteanais,
(ii) go mbeidh sé in ann aon choinníollacha a fhorchuirfidh an Banc faoi alt 5 a chomhlíonadh, agus
(iii) gur dheimhnigh sé don Bhanc go bhfuil an saineolas agus an taithí iomchuí aige chun a fheidhmeanna a chomhall faoin Acht seo,
(d) go mbeidh an Banc sásta gur scéim í de chineál a thabharfadh go ndéanfar rialú éifeachtach ar ghnóthaí na cuideachta bainisteoireachta agus ar ghnóthaí an iontaobhaí faoin scéim a fheidhmiú go neamhspleách ar a chéile,
(e) go mbeidh an Banc sásta gur scéim í de chineál a áiritheoidh go ndéanfar gach iontaobhas a chruthófar de bhun na scéime a shainiú i ngníomhas a chomhlíonann forálacha an Achta seo agus go mbeidh cúnant sa ghníomhas á fhoráil go seolfar an scéim i gcomhlíonadh fhorálacha an Achta seo,
(f) go ndéanfar cóip den ghníomhas réamhráite a thaisceadh leis an mBanc, agus,
(g) nach ainm míchuibhiúil, i dtuairim an Bhainc, ainm na scéime.
(2) Féadfaidh an tAire a ordú don Bhanc aon údarú a thabharfaidh sé faoin alt seo a chur faoi réir coinníollacha nó ceanglas d'fhorchur aige mar a bheidh sonraithe ag an Aire san ordachán uaidh (ar coinníollacha nó ceanglais iad a bhaineann le cibé nithe, ar deimhin leis an Aire, tar éis dó dul i gcomhairle leis an Aire Airgeadais agus leis an mBanc, nach gcuireann siad srian le maoirseacht stuama scéime ag an mBanc) agus, dá réir sin, cuirfidh an Banc an t-údarú sin faoi réir gach coinníll nó ceanglais a bheidh sonraithe amhlaidh.
(3) Féadfaidh ordachán faoi fho-alt (2) baint a bheith aige le scéimeanna iontaobhais aonad i gcoitinne, le scéimeanna d'aicme áirithe nó le scéim áirithe.
(4) Comhlíonfaidh an chuideachta bhainisteoireachta agus an t-iontaobhaí faoi scéim iontaobhais aonad údaraithe aon choinníollacha nó ceanglais a fhorchuirfidh an Banc faoi fho-alt (2) agus is infheidhme i leith na scéime sin.
(5) Is i scríbhinn a dhéanfar aon iarratas go n-údarófaí scéim iontaobhais aonad agus beidh cibé faisnéis ann a shonróidh an Banc d'fhonn an t-iarratas a chinneadh (lena n-áirítear cibé faisnéis bhreise a shonróidh an Banc i gcúrsa an t-iarratas a chinneadh).
(6) Má údaraíonn an Banc scéim iontaobhais aonad ní bheidh an t-údarú sin ann féin ina bharánta ar thaobh an Bhainc maidir le feidhmiú na scéime agus ní bheidh an Banc faoi dhliteanas maidir le feidhmiú nó mainneachtain na scéime.
Cumhachtaí an Bhainc.
5.—(1) D'ainneoin aon chumhachtaí eile a bheidh ar fáil ag an mBanc faoi aon achtachán eile, féadfaidh an Banc cibé coinníollacha a fhorchur le haghaidh údarú scéime iontaobhais aonad faoi alt 4 is dóigh leis is iomchuí agus is stuama chun críocha rialáil ordúil chuí a dhéanamh ar ghnó scéimeanna iontaobhais aonad.
(2) Maidir leis an gcumhacht chun coinníollacha a fhorchur dá dtagraítear i bhfo-alt (1), áireofar uirthi an chumhacht chun cibé coinníollacha a fhorchur ó am go ham, maidir leis an gcaoi ina n-oibreofar gnó aon scéime iontaobhais aonad a údarófar faoi alt 4, de réir mar is dóigh leis an mBanc is iomchuí agus is stuama chun na gcríoch dá dtagraítear i bhfo-alt (1).
(3) Féadfar coinníollacha a fhorchuirfear faoin alt seo a fhorchur go ginearálta nó ar scéim iontaobhais aonad áirithe, nó faoi threoir aicmí áirithe scéime, nó faoi threoir aon ní eile is dóigh leis an mBanc is iomchuí agus is stuama chun na gcríoch dá dtagraítear i bhfo-alt (1).
(4) Gan dochar do ghinearáltacht fho-ailt (1), (2) agus (3), féadfar foráil a dhéanamh, i gcoinníollacha a fhorchuirfidh an Banc ar scéim iontaobhais aonad, le haghaidh aon ní nó gach ní díobh seo a leanas—
(a) riachtanais stuama bheartais infheistíochta na scéime,
(b) beartais na scéime maidir le hairgead a fháil ar iasacht,
(c) réamheolairí agus faisnéis eile a scaiptear i ndáil leis an scéim,
(d) cibé ceanglais agus coinníollacha eile, ó thaobh maoirsiú agus tuairisciú de, a bhaineann lena gnó.
(5) Féadfaidh an Banc aon choinníoll a bheidh forchurtha aige faoin alt seo a leasú nó a chúlghairm.
(6) Comhlíonfaidh an chuideachta bhainisteoireachta agus an t-iontaobhaí faoi scéim iontaobhais aonad údaraithe aon choinníollacha a fhorchuirfidh an Banc faoin alt seo agus is infheidhme i leith na scéime sin.
Diúltú údarú a thabhairt.
6.—(1) I gcás ina gcinnfidh an Banc ar dhiúltú údarú a thabhairt do scéim iontaobhais aonad faoi alt 4, cuirfidh sé a chinneadh, agus na fáthanna a bhí leis, in iúl don chuideachta bhainisteoireachta agus don iontaobhaí faoin scéim. Féadfaidh an chuideachta bhainisteoireachta nó an t-iontaobhaí iarratas a dhéanamh chun na hArd-Chúirte de réir Rialachán 105 (arna oiriúnú le halt 15) de Rialacháin UCITS.
(2) Beidh an ceart céanna ag an gcuideachta bhainisteoireachta nó ag an iontaobhaí iarratas a dhéanamh chun na hArd-Chúirte atá acu i bhfo-alt (1) mura mbeidh cinneadh i dtaobh údarú faoi alt 4 déanta ag an mBanc laistigh de 6 mhí tar éis iarratas ar údarú a bheith curtha faoina bhráid, ar iarratas é ina bhfuil an fhaisnéis, seachas aon fhaisnéis bhreise, a bheidh sonraithe ag an mBanc faoi fho-alt (5) den alt sin.
Athrú ar ghníomhas iontaobhais, nó athrú ar ainm, scéime iontaobhais aonad údaraithe.
7.—(1) Ní dhéanfar aon athrú ar ghníomhas iontaobhais scéime iontaobhais aonad údaraithe, ná ní athrófar ainm scéime den sórt sin, gan ceadú ón mBanc agus beidh aon duine a dhéanfaidh athrú mar a dúradh, gan an ceadú sin a fháil, ciontach i gcion.
(2) Laistigh de 21 lá tar éis athrú a dhéanamh ar ghníomhas iontaobhais scéime iontaobhais aonad údaraithe nó tar éis ainm scéime den sórt sin a athrú, déanfaidh an chuideachta bhainisteoireachta faoin scéim cóip den ghníomhas arna athrú amhlaidh, nó ina mbeidh na hathruithe nó (de réir mar a bheidh) sonraí an athraithe ar an ainm, a thaisceadh leis an mBanc.
(3) I gcás ina mainneoidh an chuideachta bhainisteoireachta faoi scéim iontaobhais aonad údaraithe déanamh de réir fho-alt (2), beidh sí ciontach i gcion.
Ionadú ar chuideachta bhainisteoireachta nó iontaobhaí.
8.—(1) Ní chuirfear cuideachta bhainisteoireachta eile ná iontaobhaí eile (de réir mar a bheidh) in ionad na cuideachta bainisteoireachta nó an iontaobhaí faoi scéim iontaobhais aonad údaraithe gan ceadú an Bhainc.
(2) Sonrófar i ngníomhas iontaobhais scéime iontaobhais aonad údaraithe na coinníollacha faoinar féidir, agus an nós imeachta a leanfar maidir le, cuideachta bhainisteoireachta nó iontaobhaí eile a chur in ionad na cuideachta bainisteoireachta nó an iontaobhaí faoin scéim (lena n-áirítear ionadú den sórt sin ag an mBanc faoi fho-alt (3)) agus beidh forálacha ann chun a áirithiú go gcosnófar sealbhóirí aonad i gcás ionadú ar bith den sórt sin.
(3) Féadfaidh an Banc más dealraitheach dó gurb inmhianaithe déanamh amhlaidh ar mhaithe le leasanna sealbhóirí aonad nó sealbhóirí aonad ionchasacha i scéim iontaobhais aonad údaraithe, cuideachta bhainisteoireachta nó iontaobhaí eile a chur in ionad na cuideachta bainisteoireachta nó an iontaobhaí faoin scéim.
(4) I gcás ina mbeartóidh an Banc cuideachta bhainisteoireachta nó iontaobhaí a ionadú faoi fho-alt (3), tabharfaidh sé fógra á rá go bhfuil beartaithe aige é sin a dhéanamh don chuideachta bhainisteoireachta nó don iontaobhaí, de réir mar a bheidh, agus beidh ráiteas san fhógra sin i dtaobh na gcúiseanna go mbeartaíonn an Banc gníomhú agus i dtaobh cheart na cuideachta bainisteoireachta nó an iontaobhaí (de réir mar a bheidh) faoi fho-alt (5) uiríll a dhéanamh.
(5) Aon chuideachta bhainisteoireachta nó iontaobhaí dá dtabharfar fógra faoi fho-alt (4) féadfaidh sé, laistigh de 30 lá ón dáta ar a dtabharfar an fógra, uiríll a dhéanamh i scríbhinn chun an Bhainc.
(6) Beidh aird ag an mBanc ar aon uiríll a bheidh déanta chuige de réir fho-alt (5) le linn dó bheith ag cinneadh ar chóir an chuideachta bhainisteoireachta nó an t-iontaobhaí a ionadú.
(7) Féadfaidh an chuideachta bhainisteoireachta nó an t-iontaobhaí (de réir mar a bheidh) iarratas a dhéanamh chun na hArd-Chúirte de réir Rialachán 105 (arna oiriúnú le halt 15) de Rialacháin UCITS i gcás ina n-ionadóidh an Banc an chuideachta bhainisteoireachta nó an t-iontaobhaí faoin alt seo.
(8) An tráth a dhéanfaidh an Banc ionadú faoin alt seo ar chuideachta bhainisteoireachta nó ar iontaobhaí faoi scéim iontaobhais aonad údaraithe, scoirfidh an chuideachta bhainisteoireachta sin nó an t-iontaobhaí sin (de réir mar a bheidh) d'oifig a shealbhú mar chuideachta bhainisteoireachta nó mar iontaobhaí faoin scéim agus, i gceachtar cás, is é an chuideachta bhainisteoireachta nua nó an t-iontaobhaí nua (de réir mar a bheidh) a fheidhmeoidh agus a chomhallfaidh a chuid cumhachtaí agus dualgas faoin scéim.
Toirmeasc ar dhíol nó ar cheannach aonad de chuid scéimeanna iontaobhais aonad neamhúdaraithe agus scéimeanna áirithe dá samhail.
9.—(1) Ní dhéanfaidh an chuideachta bhainisteoireachta ná an t-iontaobhaí (más ann) faoi—
(a) scéim iontaobhais aonad (seachas scéim lena mbaineann fo-alt (2)) nach scéim iontaobhais aonad údaraithe, nó
(b) scéim ar comhshocraíocht í de chineál (nach comhshocraíocht lena mbaineann fo-alt (2)) a dhéantar go hiomlán nó go formhór chun saoráidí a sholáthar, nó arb é is éifeacht di go hiomlán nó go formhór saoráidí a sholáthar, le go mbeadh an pobal páirteach mar thairbhithe (seachas faoi iontaobhas nó trí chomhaltas de chuideachta, de chumann foirgníochta, de chara-chumann nó de chumann tionscail agus coigiltis) i mbrabúis nó in ioncam a thig as urrúis nó as aon mhaoin ar bith eile a fháil, a shealbhú, a bhainistiú nó a dhiúscairt,
ná aon duine a mbeidh plé aige le bainisteoireacht nó maoirsiú aon scéime acu sin, aonaid den scéim a dhíol ná a cheannach, ná sireadh a dhéanamh i ndáil le díol nó ceannach den sórt sin, gan ceadú an Bhainc (ar ceadú é a d'fhéadfadh a bheith faoi réir cibé coinníollacha is cuí leis an mBanc a fhorchur).
(2) Baineann an fo-alt seo le scéim iontaobhais aonad nó le comhshocraíocht a dhéantar go hiomlán nó go formhór chun saoráidí a sholáthar, nó arb é is éifeacht di go hiomlán nó go formhór saoráidí a sholáthar, le go mbeadh an pobal páirteach, mar thairbhithe faoi iontaobhas, nó (i gcás comhshocraíochta) seachas faoi iontaobhas, i mbrabúis nó in ioncam a thig as urrúis nó as aon mhaoin ar bith eile a fháil, a shealbhú, a bhainistiú nó a dhiúscairt agus atá á riaradh ag sealbhóir ar údarú faoi Rialacháin na gComhphobal Eorpach (Árachas Saoil). 1984 (I.R. Uimh. 57 de 1984) agus ar gá, d'fhonn bheith páirteach ann, polasaí árachais ar shaol duine a bhaint amach.
(3) Ní bhaineann an toirmeasc i bhfo-alt (1) le haonaid de scéim iontaobhais aonad, a bhfuil a húdarú faoin Acht seo cúlghairthe, a cheannach ó shealbhóir aonad.
(4) Aon duine a dhíolfaidh nó a cheannóidh aonaid, nó a dhéanfaidh sireadh i ndáil le díol nó ceannach den sórt sin, de shárú ar fho-alt (1) (cibé acu toisc nach bhfuarthas ceadú an Bhainc faoin bhfo-alt sin ina leith nó toisc nár comhlíonadh aon choinníoll a bhfuil an ceadú faoina réir), beidh sé ciontach i gcion.
Toirmeasc ar fhógraíocht áirithe i ndáil le scéimeanna iontaobhais aonad neamhúdaraithe agus scéimeanna áirithe dá samhail.
10.—(1) Ní dhéanfar, gan ceadú an Bhainc (ar ceadú é a d'fhéadfadh a bheith faoi réir cibé coinníollacha is cuí leis an mBanc a fhorchur) fógráin i ndáil le scéim, nó fógráin a thagraíonn do scéim, lena mbaineann mír (a) nó (b) d'alt 9 (1), a fhoilsiú ná a chur in iúl.
(2) (a) Aon uair a shuífear chun sástacht an Bhainc, maidir le nuachtán nó iris a chlóitear lasmuigh den Stát nach léitear, i dtuairim an Bhainc, go fairsing sa Stát, gur ghá chun an t-alt seo a chomhlíonadh eagrán speisialta den nuachtán nó den iris a tháirgeadh le haghaidh cúrsaíocht sa Stát agus go gcuirfeadh costas an táirgthe sin ualach ar úinéir an nuachtáin nó na hirise a bheadh trom thar cuimse sna himthosca go léir, féadfaidh an Banc fógráin a fhoilsítear sa nuachtán nó san iris a dhíolmhú ó fheidhm an ailt seo.
(b) Beidh díolúine faoin bhfo-alt seo faoi réir cibé coinníollacha, más aon choinníollacha iad, a fhorchuirfidh an Banc agus a shonróidh sé sa díolúine agus mairfidh a ré gan teorainn maidir le ham nó go ceann cibé tréimhse a shonróidh an Banc sa díolúine.
(c) Féadfaidh an Banc díolúine faoin bhfo-alt seo a chúlghairm, coinníollacha a fhorchur a mbeidh díolúine den sórt sin a tugadh cheana faoina réir, aon choinníollacha a sonraíodh i ndíolúine den sórt sin a leasú, sonrú a dhéanamh, maidir le díolúine den sórt sin nach bhfuil teorainn ama lena ré, ar an tráth a rachaidh sé in éag nó an tréimhse a mhairfidh díolúine den sórt sin a athrú.
(d) Aon uair a fheidhmeoidh an Banc cumhacht faoin bhfo-alt seo, foilseofar san Iris Oifigiúil fógra faoin bhfeidhmiú sin agus faoina chineál agus ainm an nuachtáin nó na hirise lena mbaineann sé.
(3) I gcás go bhfoilseofar nó go gcuirfear in iúl fógrán de shárú ar fho-alt (1) (cibé acu toisc nach bhfuarthas ceadú an Bhainc faoi fho-alt (1), nó díolúine uaidh faoi fho-alt (2), ina leith nó toisc nár comhlíonadh aon choinníoll a bhfuil an ceadú nó an díolúine faoina réir), beidh an duine a fhoilsíonn nó a chuireann in iúl an fógrán agus aon duine a thugann an foilsiú nó an cur in iúl sin chun críche ciontach araon i gcion.
(4) San alt seo folaíonn “fógrán” aon ní lena mbaineann an t-alt seo a mholadh ar gach slí, lena n-áirítear go háirithe aon ní den sórt sin a thaispeáint nó a fhoilsiú trí bhileoigín, fógra, ciorclán, paimfléad, bróisiúr, fótagraf, scannán, fístaifead, fuaimchraoladh, teilifís, cumarsáid leictreonach nó canbhasáil phearsanta.
Sócmhainní scéimeanna iontaobhais aonad.
11.—(1) Is sócmhainní de scéim iontaobhais aonad na fáltais as aon aonaid den scéim a dhíol ag an gcuideachta bhainisteoireachta faoin scéim agus aon ioncam i leith sócmhainní na scéime nach bhfuil dáilte ar na sealbhóirí aonad sa scéim agus beidh na sócmhainní sin faoina réir ag an gcuideachta bhainisteoireachta, agus déileálfaidh sí leo, de réir na n-iontaobhas a cruthaíodh faoin scéim.
(2) Ní bhainfidh fo-alt (1) le díol a dhéanfaidh cuideachta bhainisteoireachta ar aonaid de scéim iontaobhais aonad a bheidh ceannaithe aici ar a cuntas féin, a mhéid a shonróidh an Banc i gcoinníoll a fhorchuirfidh an Banc faoi alt 5.
(3) Beidh cuideachta bhainisteoireachta a sháróidh forálacha fho-alt (1) ciontach i gcion.
É a bheith d'oibleagáid ar chuideachtaí bainisteoireachta faoi scéimeanna iontaobhais aonad aonaid a cheannach.
12.—(1) Faoi réir Rialachán 63 (arna oiriúnú le halt 15) de Rialacháin UCITS agus fho-alt (2), aon uair a iarrfaidh an sealbhóir aonad i scéim iontaobhais aonad údaraithe, nó i scéim ar cúlghaireadh a húdarú faoin Acht seo, amhlaidh, déanfaidh an chuideachta bhainisteoireachta faoin scéim, a luaithe is féidir, cibé líon de na haonaid den scéim a bheidh á sealbhú ag an sealbhóir aonaid a shonróidh an duine sin a cheannach ar an bpraghas ar a gceannaíonn an chuideachta bhainisteoireachta aonaid den scéim de thuras na huaire.
(2) Ní bheidh feidhm ag fo-alt (1) a mhéid a shonróidh an Banc i gcoinníoll a fhorchuirfidh sé faoi alt 5.
(3) Beidh cuideachta bhainisteoireachta a sháróidh fo-alt (1) ciontach i gcion.
Toirmeasc ar chuideachtaí bainisteoireachta faoi scéimeanna iontaobhais aonad agus ar dhaoine áirithe eile do dhéanamh idirbheart áirithe agus brabús áirithe.
13.—(1) Ní dhéanfaidh cuideachta bhainisteoireachta faoi scéim iontaobhais aonad ná, más comhlacht corpraithe an chuideachta bhainisteoireachta, ní dhéanfaidh fochuideachta ná cuideachta shealbhaíochta de chuid an chomhlachta sin ná fochuideachta de chuid chuideachta shealbhaíochta an chomhlachta sin, ná stiúrthóir ná duine atá ag gabháil do bhainisteoireacht comhlachta nó cuideachta den sórt sin, idirbhearta a sheoladh dó féin nó di féin, ná brabús a dhéanamh dó féin nó di féin as idirbhearta, in aon sócmhainní a shealbhaítear faoin scéim.
(2) Ní dhéanfaidh cuideachta bhainisteoireachta nó iontaobhaí faoi scéim iontaobhais aonad (nach scéim iontaobhais aonad lena mbaineann alt 9 (2)) nó, más comhlacht corpraithe an chuideachta bhainisteoireachta nó an t-iontaobhaí, ní dhéanfaidh fochuideachta ná cuideachta shealbhaíochta an chomhlachta sin, ná fochuideachta de chuid chuideachta shealbhaíochta an chomhlachta sin—
(a) airgead a fháil ar iasacht thar ceann na scéime chun urrúis nó maoin eile a fháil don scéim, ná
(b) airgead atá faoi réir iontaobhais na scéime a thabhairt ar iasacht do dhuine le go bhféadfaidh sé aonaid den scéim a cheannach, ná
(c) aon urrúis nó aon mhaoin eile atá faoi réir iontaobhais na scéime a chur faoi mhorgáiste ná faoi mhuirear ná aon eire eile a chur orthu.
(3) Ní bheidh feidhm ag fo-alt (1) nó (2) a mhéid a shonróidh an Banc i gcoinníoll a fhorchuirfidh sé faoi alt 5.
(4) Ní bheidh éifeacht le fo-alt (2) maidir le hiontaobhaí faoi scéim iontaobhais aonad lena mbaineann an fo-alt sin nó, más comhlacht corpraithe, an t-iontaobhaí sin le fochuideachta nó cuideachta shealbhaíochta de chuid an chomhlachta sin, nó le fochuideachta de chuid chuideachta shealbhaíochta an chomhlachta sin, go dtí an lá atá 3 mhí tar éis dháta rite an Achta seo.
(5) Beidh duine a sháróidh an t-alt seo ciontach i gcion.
Dliteanas iontaobhaithe faoi scéimeanna íontaobhais aonad údaraithe.
14.—(1) Aon fhoráil i ngníomhas iontaobhais scéime iontaobhais aonad údaraithe beidh sí ar neamhní sa mhéid go mbeadh d'éifeacht léi an t-iontaobhaí faoin scéim a dhíolmhú ó dhliteanas, nó a shlánú in aghaidh dliteanais, i leith sárú iontaoibhe más rud é, ag féachaint d'fhorálacha an ghníomhais iontaobhais lena dtugtar dó aon chumh achtaí, údaráis nó discréidí, nach dtaispeánann sé an méid cúraim agus dúthrachta ba ghá dó mar iontaobhaí.
(2) Ní dhéanfaidh fo-alt (1) den alt seo neamhbhailí—
(a) aon scaoileadh a thugtar thairis sin go bailí i leith aon ní a rinne iontaobhaí nó a mhainnigh sé a dhéanamh sular tugadh an scaoileadh; ná
(b) aon fhoráil lena gcumasaítear scaoileadh den sórt sin a thabhairt—
(i) ar aontú leis sin ag tromlach de na sealbhóirí aonad a shealbhaíonn méid nach lú ná 75 faoin gcéad de réir luacha de na haonaid, arna n-éisiúint, den scéim iontaobhais aonad iomchuí a bheidh i láthair agus a vótálfaidh i bpearsa nó, i gcás ina gceadaítear seachvótáil, trí sheachvótáil ag cruinniú a thionólfar chun na críche sin, agus
(ii) maidir le sainghníomhartha nó sainmhainneachtainí nó maidir leis an iontaobhaí d'fháil bháis nó do scor de ghníomhú.
(3) Ní oibreoidh fo-alt (1)—
(a) chun aon fhoráil a bheidh i bhfeidhm ar an 15ú lá de Mheitheamh, 1973, a dhéanamh neamhbhailí fad a fhanfaidh aon duine ina iontaobhaí ar an ngníomhas a bheidh i gceist is duine a mbeidh teideal aige an tráth sin chun sochar na forála sin nó a dtabharfar a sochar dó dá éis sin faoi fho-alt (4); nó
(b) chun go mbainfear d'aon duine aon díolúine nó aon cheart slánaithe i leith aon rud a rinne sé nó aon rud a mhainnigh sé a dhéanamh le linn aon fhoráil den sórt sin a bheith i bhfeidhm.
(4) Fad a fhanfaidh aon iontaobhaí gníomhais iontaobhais i dteideal sochar forála a eisctear le fo-alt (3), féadfar sochar na forála sin a thabhairt—
(a) do na hiontaobhaithe go léir ar an ngníomhas, faoi láthair agus san am le teacht; nó
(b) d'aon iontaobhaí, nó d'aon iontaobhaithe beartaithe, ar an ngníomhas sin, a ainmneofar;
le rún arna rith ag tromlach de na sealbhóirí aonad a shealbhaíonn méid nach lú ná 75 faoin gcéad de réir luacha de na haonaid, arna n-éisiúint, den scéim iontaobhais aonad áirithe a bheidh i láthair agus a vótálfaidh i bpearsa nó, i gcás ina gceadaítear seachvótáil, trí sheachvótáil ag cruinniú a thionólfar chun na críche sin de réir fhorálacha an ghníomhais nó, mura mbeidh foráil sa ghníomhas chun cruinnithe a thionól, ag cruinniú arna thionól chun na críche sin ar aon mhodh a bheidh ceadaithe ag an Ard-Chúirt.
Forálacha áirithe de Rialacháin UCITS a oiriúnú.
15.—(1) Beidh feidhm ag Rialacháin 63, 75 go 83 agus 99 go 105 de Rialacháin UCITS maidir le scéim iontaobhais aonad údaraithe mar atá feidhm acu maidir leis na comhlachtaí lena mbaineann na Rialacháin sin faoi réir na modhnuithe seo a leanas agus aon mhodhnuithe eile is gá—
(a) déanfar tagairt sna Rialacháin sin do théarma nó d'abairt a shonraítear sa dara colún den Tábla a ghabhann leis an alt seo ag aon uimhir thagartha a fhorléiriú, más féidir é sa chomhthéacs, mar thagairt don téarma nó don abairt a shonraítear sa tríú colún den Tábla sin ag an uimhir thagartha sin, agus
(b) déanfar tagairtí do théarmaí nó d'abairtí gaolmhara sna Rialacháin sin a fhorléiriú dá réir sin;
(c) tabharfar neamhaird ar thagairtí—
(i) do “na hairteagail” agus “an Treoir” sna Rialacháin sin, agus
(ii) do na focail “agus an fhaisnéis eile dá bhforáiltear in Iarscríbhinn B a ghabhann leis na Rialacháin seo” i Rialachán 77 agus don chéad abairt de Rialachán 78 de na Rialacháin sin,
agus beidh éifeacht leis an Rialachán 78 sin ionann is dá gcuirfí “sa tuarascáil leathbhliantúil” isteach i ndiaidh na bhfocal “na figiúirí”; agus
(d) beidh éifeacht le Rialachán 105 de na Rialacháin sin ionann is dá gcuirfí “nó go n-ionadóidh sé cuideachta bhainisteoireachta nó iontaobhaí faoi scéim iontaobhais aonad” i ndiaidh na bhfocal “go gcúlghairfidh sé údarú nó go ndiúltóidh sé údarú a chúlghairm”.
(2) I bhfo-alt (1) folaíonn “scéim iontaobhais aonad údaraithe” scéim a mbeidh a húdarú cúlghairthe faoi Rialachán 102 (arna oiriúnú leis an alt seo) de Rialacháin UCITS.
AN TÁBLA | ||
Uimh. Thag. | Téarma nó abairt dá dtagraítear i Rialacháin UCITS | Forléiriú téarma nó abairte chun críocha an ailt seo |
(1) | (2) | (3) |
1. | “Rialachán 14” | |
2. | “Rialachán 59” | |
3. | “na Rialacháin seo” | |
4. | “athcheannach” | “ceannach” |
5. | “UCITS” | “scéim iontaobhais aonad” |
Cionta i ndáil le comhlachtaí áirithe.
16.—I gcás cion faoin Acht seo a bheith déanta ag comhlacht corpraithe agus go gcruthófar go ndearnadh amhlaidh é le toiliú nó le ceadú, nó gur urasaíodh é le haon fhaillí thoiliúil ar thaobh, aon duine is stiúrthóir, bainisteoir, rúnaí, comhalta d'aon choiste bainisteoireachta nó d'údarás rialaithe eile de chuid an chomhlachta sin nó is oifigeach don chomhlacht sin, beidh an duine sin freisin ciontach i gcion.
Cionta faoi fhorálacha an Achta seo agus faoi Rialacháin UCITS.
17.—Aon duine a sháróidh aon fhoráil den Acht seo nó de Rialacháin UCITS (arna n-oiriúnú le halt 15) is sárú nach gcruthaítear aon chion ina leith faoi aon fhoráil eile den Acht seo, beidh sé ciontach i gcion.
Pionóis.
18.—(1) Aon duine a bheidh ciontach i gcion faoin Acht seo, dlífear—
(a) ar é a chiontú go hachomair, fíneáil nach mó ná £1,000 nó príosúnacht ar feadh téarma nach faide ná 12 mhí, nó an fhíneáil agus an phríosúnacht sin le chéile, a chur air, nó
(b) ar é a chiontú ar díotáil, fíneáil nach mó ná £10,000 nó príosúnacht ar feadh téarma nach faide ná 5 bliana, nó an fhíneáil agus an phríosúnacht sin le chéile, a chur air,
agus má leantar, tar éis an chiontaithe, den sárú ar ina leith a ciontaíodh i gcion faoin Acht seo é, beidh sé ciontach i gcion eile ar gach lá a leanfar den sárú agus dlífear, ar é a chiontú go hachomair, fíneáil nach mó ná £250 nó, ar é a chiontú ar díotáil, fíneáil nac h mó ná £1,000, a chur air in aghaidh gach ciona den sórt sin.
(2) Féadfaidh an Stiúrthóir Ionchúiseamh Poiblí nó an Banc imeachtaí achoimre i ndáil le cion faoin Acht seo a thionscnamh agus a thabhairt ar aghaidh.
(3) D'ainneoin alt 10 (4) den Petty Sessions (Ireland) Act, 1851, féadfar imeachtaí achoimre i leith ciona faoin Acht seo a thionscnamh laistigh de 3 bliana tar éis dháta an chiona.
Caiteachais an Aire.
19.—Déanfar na caiteachais a thabhóidh an tAire ag riaradh an Achta seo a íoc, a mhéid a cheadóidh an tAire Airgeadais é, as airgead a sholáthróidh an tOireachtas.
Aisghairm an Achta um Iontaobhais Aonad, 1972, agus forálacha iarmhartacha.
20.—(1) Aisghairtear leis seo Acht 1972.
(2) Aon scéim iontaobhais aonad a bhí, díreach roimh an Acht seo a rith, ina scéim iontaobhais aonad chláraithe faoi Acht 1972, measfar gur scéim iontaobhais aonad údaraithe í agus beidh feidhm dá réir sin ag forálacha an Achta seo, faoi réir fho-alt (3), maidir leis an scéim sin.
(3) Ní bheidh éifeacht le halt 8 (2) maidir le scéim iontaobhais aonad dá dtagraítear i bhfo-alt (2) go dtí an lá atá 3 mhí tar éis dháta rite an Achta seo.
(4) Déanfaidh an tAire agus cláraitheoir na gcuideachtaí, ar an Acht seo a rith, a mhéid a cheanglóidh an Banc é, na doiciméid agus na taifid go léir a bhaineann le scéimeanna iontaobhais aonad a cláraíodh faoi Acht 1972, agus atá ina seilbh, a aistriú chuig an mBanc.
Gearrtheideal.
21.—Féadfar an tAcht um Iontaobhais Aonad, 1990, a ghairm den Acht seo.