OSFG01050 - Information Requirements

All of the following information must be submitted when applying for certification as a distributing fund

1. The full name of the fund. If this has changed since the last application, the fund’s previous name
2. The account period for certification
3. The reason the fund is considered to be an offshore fund
4. An explanation of the reason for any late application
5. A copy of any Fund Prospectus or Explanatory Memorandum in issue for the account period under consideration or confirmation that there has been no change in this period to documents submitted for a previous account period
6. Whether equalisation arrangements were in operation throughout the account period. If so, what form did these take?
7. A copy of the final audited accounts for the period. (See SI 2004 No. 2572 Regulation 4 Paragraph 2 for umbrella funds and classes of interest in a fund
8. An analysis of the Fund’s investment portfolio as at the accounting date
9. Details to show that throughout the period of account the percentage limit set out in section 760(3)(a) was not exceeded
10. Details of any holdings in other offshore funds, stating clearly the type of fund i.e. qualifying/non qualifying fund, UK fund, closed-ended fund

(If the fund is relying on paragraph 6 Schedule 27 ICTA 1988 with regard to holdings in other qualifying offshore funds, because its total investments in those funds exceed the limit prescribed by section 760 (3)(a), then a computation of the Excess Income under paragraph 8 Schedule 27 ICTA 1988 should also be provided and included in the calculation of United Kingdom Equivalent Profits (‘UKEP’) – see 13 below)

11. A copy of the accounts of each wholly owned subsidiary company dealing in

Or

Include companies that were subsidiaries at any time during the period for which certification is sought. The accounts should cover or include the account period

12. A copy of the accounts of each subsidiary management company in which the Fund had an interest. Include companies that were subsidiaries at any time during the period for which certification is sought. The accounts should cover or include the account period.
13. A computation of the Fund’s United Kingdom Equivalent Profits for the account period

It should be made clear whether or not any elections have been made under paragraphs 1(3) and 2(3) Schedule 26 FA 2004 relating to the calculation of income from creditor relationships and derivative contracts. (Once any such election has been made it is irrevocable for that and all later periods). (Please refer to OSFG01100 for more detail.)

14. The amount and date of each income distribution made, or to be made, for the account period for each fund, sub-fund or class of interest for which separate application is being made
15. The aggregate amount of deemed income distributions made for the account period by way of equalisation for each fund, sub-fund or class of interest for which separate application is being made
16. Where distributions are being reinvested immediately, please provide an explanation and demonstration of precisely how Reinvestment Mechanics are being applied ( OSFG01070).