ICR 2.2 ICR 2.2 Basic Concepts
ICR 2.2.1 Scope of Licence
An Investment Club shall only carry out Investment Club activities to the extent that it is permitted to carry out such activities under its licence. An Investment Club shall not carry on Regulated Activities in or from the QFC "by way of business" (as defined by Article 25 of the Financial Services Regulations) without the prior authorisation of the Regulatory Authority.
ICR 2.2.2 Application of the Investment Clubs Regulations
An Investment Club is subject to the Investment Clubs Regulations.
ICR 2.2.3 Transfers of Shares(A) Article 23 of the Investment Clubs Regulations provides that an Investment Club shall not register a transfer of shares in the Investment Club until the QFC Authority has confirmed in writing that it does not object to the transfer.(B) An Investment Club applying to the QFC Authority for a nonobjection to such a transfer must:(1) complete the form prescribed in Appendix 2 of these Rules and file it with the QFC Authority;(2) provide such additional material as may be required by the QFC Authority; and(3) pay the prescribed fee in Appendix 3 of these Rules.