COLL 7.2.1 Investment Powers Generally—QFC Retail Schemes

(1) The scheme property of a QFC retail scheme must be invested only in investments mentioned in rule 7.2.2 (Permissible investments generally—QFC retail schemes) to which the scheme is dedicated.

Note Investment and dedicated are defined in the glossary.
(2) The scheme property of a QFC retail scheme must be invested and used only in accordance with the relevant provisions of this chapter, including within any limit or other restriction (however described) of this chapter.
(3) The constitutional document and the latest filed prospectus of a QFC retail scheme may further restrict—
(a) the kinds of property in which the scheme property may be invested; and
(b) the proportion of the capital property of the scheme that may be invested in investments of any kind; and
(c) the kinds of transactions permitted by the scheme and any relevant limits; and
(d) the borrowing powers of the scheme.

Note Constitutional document is defined in r 3.1.1. Capital property is defined in the glossary.
(4) Subrule (3) does not limit the further restrictions that the constitutional document and latest filed prospectus may impose on investment and borrowing by the scheme or on the use of the scheme property.
(5) The operator must ensure that any further restrictions are complied with.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)