• COLL Division 1.2.B COLL Division 1.2.B Participants, Scheme Property, Units and Unitholders

    • COLL 1.2.2 Who is a Participant?

      A participant in a collective investment scheme (or scheme) is a person who takes part (or is to take part) in the scheme by making a contribution to the scheme property.

      Derived from QFCRA RM/2010-05 (as from 1st January 2011)

    • COLL 1.2.3 What is the Scheme Property?

      The scheme property of a collective investment scheme (or scheme) is the property held for or in the scheme.

      Note Property is defined in the glossary.

      Derived from QFCRA RM/2010-05 (as from 1st January 2011)

    • COLL 1.2.4 What is a Unit?

      A unit in a collective investment scheme (or scheme) is a unit representing the rights or interests (however described) of a participant in the scheme.

      Note The nature of the rights or interests will differ according to the form of the scheme. If the scheme is a company, the units would be shares in the company.

      Derived from QFCRA RM/2010-05 (as from 1st January 2011)

    • COLL 1.2.5 Who is the Unitholder?

      The unitholder of a unit in a collective investment scheme (or scheme) is the person whose name is entered for the unit in the scheme's records (however described).

      Note 1 For a QFC scheme, the name would be entered in:

      (a) the scheme's unitholder register (see rule 4.1.6 (1)); or
      (b) if the unit is a listed unit — the QCSD's, or relevant exchange's, registry or system (see rule 4.1.6 (3)).

      Note 2 Unitholder has a special meaning in div 5.5.B (Unitholder meetings — QFC retail schemes) (see r 5.5.2).

      Amended by QFCRA RM/2016-1 (as from 19th September 2016)