http://www.legislation.gov.uk/uksi/2001/1228/regulation/53The Open-Ended Investment Companies Regulations 2001texttext/xmlenStatute Law DatabaseFINANCIAL SERVICES AND MARKETS2024-05-16Expert Participation2022-06-06These Regulations are made under section 262 of the Financial Services and Markets Act 2000. They make provision for facilitating the carrying on of collective investment by means of open-ended investment companies and regulate such companies.PART III CORPORATE CODEOperation53 Power incidental to carrying on business

An open-ended investment company has power to do all such things as are incidental or conducive to the carrying on of its business.