Part

LR Listing Rules

Chapter

Open-ended investment companies: Premium listing

Printed on: 23/05/2025

Rulebook at: 27/07/2012

LR 16

Open-ended investment companies: Premium listing

LR 16.1

Application

  • 01/07/2005

LR 16.1.1

handbook-rule

This chapter applies to an open-ended investment company applying for, or with, a premium listing which is:

  1. (1) an ICVC that has been granted an authorisation order by the FSA; or
  2. (2) an overseas collective investment scheme that is a recognised scheme.
  • 06/04/2010

LR 16.2

Requirements and eligibility for listing

  • 28/09/2007

LR 16.2.1

handbook-rule

To be listed, an applicant must comply with:

  1. (1) LR 2 (Requirements for listing); and
  2. (2) only LR 6.1.22 R to LR 6.1.24 G of LR 6 (Additional requirements for premium listing commercial company).
  • 06/04/2010

LR 16.3

Listing applications

  • 28/09/2007

LR 16.3.1

handbook-guidance
An applicant for admission is required to comply with LR 3 (Listing applications).
  • 28/09/2007

LR 16.3.2

handbook-guidance
The FSA will admit to listing such number of securities as the applicant may request for the purpose of future issues. At the time of issue the securities will be designated to the relevant class.
  • 28/09/2007

Sponsors

LR 16.3.3

handbook-guidance
An applicant that is seeking admission of its equity shares must retain a sponsor in accordance with LR 8 (Sponsors).
  • 06/04/2010

LR 16.3.4

handbook-rule
In addition to the circumstances set out in LR 8.2.1 R when a sponsor must be appointed, an applicant must appoint a sponsor when it makes an application for admission of equity shares which requires the production of listing particulars.
  • 06/04/2010

Multi-class fund or umbrella fund

LR 16.3.6

handbook-rule
An applicant which is a multi-class or umbrella fund which seeks to create a new class of security without increasing its share capital for which listing has previously been granted, must provide the FSA with the details of the new class and no further application for listing is required.
  • 28/09/2007

LR 16.4

Requirements with continuing application

  • 28/09/2007

LR 16.4.1

handbook-rule

An open-ended investment company must comply with:

  1. (1) LR 9 (Continuing obligations) except LR 9.2.6B R, LR 9.2.15 R and LR 9.3.11 R;
  2. (2) LR 15.5.1 R;
  3. (3) LR 15.6.1 R; and
  4. (4) the condition set out in LR 16.1.1 R (1) or (2).
  • 06/06/2011

LR 16.4.2

handbook-rule
LR 15.6.6 R applies to an open-ended investment company if it has no executive directors.
  • 28/09/2007

LR 16.4.3

handbook-rule
The interests of a single person or entity which exceeds 10% of the issued shares (calculated exclusive of treasury shares) of any class of share in the capital of the open-ended investment company must, so far as they are known to it, be notified to a RIS as soon as possible following the open-ended investment company becoming aware of those interests.
  • 28/09/2007

LR 16.4.4

handbook-rule
LR 10 (Significant transactions) and LR 12 (Dealing in own securities and treasury shares) do not apply to an open-ended investment company.
  • 28/09/2007

Cancellation of premium listing

LR 16.4.5

  • 06/04/2010