PRIV 1.2.12 What is a Collective Investment Company (or CIC)?

(1) A collective investment company (or CIC) is a company incorporated under the Companies Regulations 2005 if its articles of association provide that the company is established for the sole purpose of constituting a collective investment scheme.

Note Articles of association is defined in the glossary.
(2) If the CIC is an open-ended scheme, it must be an open-ended company with variable share capital.

Note Open-ended scheme is defined in r 1.2.7(1).
Derived from QFCRA RM/2010-06 (as from 1st January 2011)