• COLL Division 1.3.C COLL Division 1.3.C Particular Types of QFC Schemes

    • COLL 1.3.11 Islamic Funds

      A QFC scheme, or a subscheme of a QFC umbrella scheme, is an Islamic fund if the constitutional document of the scheme states that the scheme or subscheme is an Islamic fund.

      Note 1 Umbrella scheme and subscheme are defined in r 1.2.11. Constitutional document is defined in r 3.1.1.

      Note 2 The following provisions must be complied with in relation to Islamic funds:

      •   r 5.6.1 (2) and (3) (Accounting standards—all QFC schemes)
      •   pt 8.10 (Shari'a Supervisory Board—all Islamic funds)
      •   sch 2 (Constitutional document content—QFC schemes), r S2.4 (Islamic funds)
      •   sch 3 (Prospectus content—QFC qualified investor schemes), r S3.2 (e) (Description of scheme etc) and r S3.3 (Islamic funds)
      •   sch 4 (Prospectus content—QFC retail schemes), r S4.2 (f) (Description of scheme etc) and r S4.3 (Islamic funds).
      Derived from QFCRA RM/2010-05 (as from 1st January 2011)

    • COLL 1.3.12 Money-Market Funds

      A QFC scheme, or a subscheme of a QFC umbrella scheme, is a money-market fund if the constitutional document of the scheme states that the scheme or subscheme is a money-market fund.

      Note 1 Umbrella scheme and subscheme are defined in r 1.2.11. Constitutional document is defined in r 3.1.1.

      Note 2 The following provisions must be complied with in relation to money-market funds:

      •   r 6.1.5 (Investments by money-market funds-QFC qualified investor schemes)
      •   r 7.2.4 (Investments by money-market funds-QFC retail schemes)
      •   r 8.2.19 (Maintaining value-all money-market funds)
      •   pt S2.4 (Extra constitution requirements-money-market funds)
      •   sch 3 (Prospectus content—QFC qualified investor schemes), r S3.2 (f) (Description of scheme etc)
      •   sch 4 (Prospectus content-QFC retail schemes), r S4.2 (g) (Description of scheme etc) (see also r S4.4 (r) (Investment objectives and policy etc)).
      Derived from QFCRA RM/2010-05 (as from 1st January 2011)

    • COLL 1.3.13 Other Types of QFC Schemes

      This division does not limit by implication the types of QFC schemes permitted under these rules.

      Note 1 See, for example, the definitions of feeder fund, fund of fund and property fund in the glossary.

      Note 2 For guaranteed funds and similar funds, see r 8.9.1 (5) to (11) (Name of scheme etc—all QFC schemes).

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