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Proceeding contribution from Lord Davies of Oldham (Labour) in the House of Lords on Wednesday, 25 February 2009. It occurred during Debates on delegated legislation on Unit Trusts (Electronic Communications) Order 2009.


Unit Trusts (Electronic Communications) Order 2009

I am grateful to the noble Lord. I wish he had asked his question a little earlier, so that I would not be quite so breathless in my response. It is a very important question. He has identified an issue which would cause the gravest concern if we did not think that we were able to guarantee a provision against that. There are provisions for managers to suspend redemptions in the circumstances which the noble Lord has identified, which would certainly be necessary because the consequences could be disastrous in regard to any particular fund. We could suspend. Motion agreed.


Secondary information

Type
Proceeding contribution
Reference
708 c120GC 
Session
2008-09
Chamber / Committee
House of Lords Grand Committee
Subjects
Cost effectiveness Investment Electronic funds transfer Electronic commerce Property transfer Open ended investment companies Standards Shares Stocks and shares Unit trusts
Legislation
Open-ended Investment Companies (Amendment) Regulations 2009
Unit Trusts (Electronic Communications) Order 2009
Link
View this Proceeding contribution on www.publications.parliament.uk