The Collective Investment Schemes Act 2008 came into operation on 1st August 2008.
Exempt Schemes (as defined in Schedule 3 to the CIS Act) are unregulated schemes which
- are private arrangements,
- can have up to 50 investors and
- whose constitutional documents must expressly prohibit the making of an invitation to the public to subscribe in any part of the world.
- Permitted structures for scheme types
- Limited Partnerships and Funds
- Fund Management Association – Sound Practice Guidelines