s 261Q Alteration of contractual schemes and changes of operator or depositary
(1) This section applies where the operator of an authorised contractual scheme proposes to make an alteration to the scheme, other than an alteration— (a) to which section 261S applies; or (b) to which Part 4 of the Undertakings for Collective Investment in Transferable Securities Regulations 2011 (mergers) applies. (2) The operator must give written notice of the proposal to the FCA . (3) Any notice given in respect of a proposal to alter the scheme involving a change in the contractual scheme deed must be accompanied by a certificate signed by a solicitor to the effect that the change will not affect the compliance of the deed with the contractual scheme rules. (4) The operator of an authorised contractual scheme must give written notice to the FCA of any proposal to replace the depositary of the scheme. (5) The depositary of an authorised contractual scheme must give written notice to the FCA of any proposal to replace the operator of the scheme. (6) Effect is not to be given to any proposal of which notice has been given under subsection (2), (4) or (5) unless— (a) the FCA , by written notice, has given its approval to the proposal; or (b) one month, beginning with the date on which the notice was given, has expired without the operator or the depositary having received from the FCA a warning notice under section 261R in respect of the proposal. (7) The FCA must not approve a proposal to replace the operator or the depositary of an authorised contractual scheme unless it is satisfied that, if the proposed replacement is made, the scheme will continue to comply with the requirements of section 261D(4) to (9).