The Unauthorised Co-ownership Alternative Investment Funds (Reserved Investor Fund) Regulations 2025/216

Sections 261M to 261O and 261P(1) and (2) of FSMA make provision about contracts and the rights and liabilities of participants in relation to co-ownership schemes authorised by an authorisation order under s261D(1),  These Regulations apply, with modifications, ss261M to 261O and 261P(1) and (2) so that they also apply in connection with any unauthorised co-ownership AIF that is a RIF (Reserved Investor Fund (Contractual Scheme)) and any unauthorised co-ownership AIF that was previously a RIF but is currently not a RIF (provided it is UK-based).