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United Kingdom
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Key definition
UCITs definition

What does UCITs mean? In practice, UCITS are regulated open‑ended retail investment funds that invest mainly in transferable securities and other eligible assets, subject to strict rules on diversification, liquidity, leverage, disclosure and depositary oversight. The term is defined in legislation: in the EEA by Directive 2009/65/EC (as amended, including “UCITS V”), and in the UK by the on‑shored “UK UCITS” regime under retained EU law and the FCA Handbook. Key features include eligible asset and concentration limits, daily/regular redemption, risk management, and prescribed investor disclosures (e.g., KIID/KID), making UCITS the standard vehicle for cross‑border retail distribution. Structures vary: in continental Europe common...

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UCITS depositaries: EU framework and UK implementation—appointment, eligibility, safekeeping, oversight, cash monitoring, delegation and liability

Practice notes
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This Practice Note reviews the function of depositaries of ucits funds (ie open-ended collective investment schemes (CIS) that are undertakings for collective investment in transferable securities) and the framework in Directive 2009/65/EC (the UCITS Directive), as updated by Directive 2014/91/EU (UCITS V), along with the supplementing delegated regulations and UK implementing measures (such as the Financial Conduct Authority (FCA) Handbook), plus the retention measures introduced following the end of the Brexit transition period. It considers a depositary’s obligations and requirements, who may act as depositary, liability, and constraints on delegation...

EU legislation on UCITS depositaries

Undertakings for collective investment in transferable securities (UCITS) are open-ended collective investment schemes which comply with Directive 2009/65/EC on the co-ordination of laws, regulations and administrative provisions relating to UCITS (the UCITS Directive, also known as UCITS IV), as amended by Directive 2014/91/EU (UCITS V). The requirements applicable to depositaries are contained in Articles 22–26b of the UCITS Directive...

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Web page updated on 22/05/2026

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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

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