The Authorised Unit Trust Scheme (Investment and Borrowing Powers) Regulations 1988
These Regulations make provision as to the investment and borrowing powers exercisable in relation to an authorised unit trust scheme. The regulations make provisions for several different categories of scheme only one of which, a money market fund, may invest in property which is not transferable securities within the meaning of the regulations. The regulations impose limits on the proportion of a scheme which may be invested in property of particular kinds, but enable cash and near cash to be held for the purposes described in regulation 11(1)(a) and also enable property of the scheme to be utilised in transactions designed to reduce risk arising in the management of the scheme.