However, authorised open-ended investment companies are constituted under a separate corporate code set out in regulations made by HM Treasury and although these companies have a document known as an instrument of incorporation which serves the same purpose as memorandum and articles of association for a conventional company,
most of the provisions governing the day to day operation of the company and its powers are prescribed by regulations made by the Financial Services Authority in its Collective
Investment Schemes Sourcebook (the "CIS Sourcebook").