Arthur Cox recently participated in a committee which made
various submissions to the Central Bank of Ireland (the
"Central Bank") to ensure the ongoing competitiveness of
Irish funds. As a consequence a number of important amendments have
now been made to the notices and guidance notes issued by the
Central Bank. The purpose of this briefing is to summarise the
principal changes to the notices and guidance notes.
Regulated markets
The stock exchanges and markets on which UCITS and non-UCITS
retail schemes are permitted to invest are required to be listed in
the prospectus and the constitutional document of a fund (typically
the articles of association or the trust deed). Although this list
in the constitutional document was lengthy the list would typically
need to be amended from time to time to include additional stock
exchanges and markets. The amendment to the list of regulated
markets was an easy process in the case of a unit trust as any
amendment to the
