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Item 11 - Variation of Permissions (CIV13/9)

Summary:    

This report provides the Committee with advanced notification that a written resolution will be circulated to all Shareholder Representatives shortly to seek agreement to LCIV applying to the FCA for a ‘Variation of Permissions’ to enable the Company to expand its activities to include the operation of Unauthorised Alternative Investment Funds.

Recommendations:    

The Committee is recommended to note the contents of this report and agree that LCIV:
i.    proceed to prepare a resolution for shareholder approval to extend the activity of the Company to manage both authorised and unauthorised Alternative Investment Funds (AIFs).