COLL 8.1.15 Changes to Number of Units Issued or Redeemed—QFC Retail Schemes
(1) Any instructions to the operator of a QFC retail scheme for the issue or redemption of units may be altered to change the number of units issued or redeemed if the independent entity, after having taken reasonable care in considering the matter—
(a) is satisfied that—
(i) the alteration corrects an error in the instruction; and
(ii) the error is an isolated error; and
(b) agrees with the change.
(2) However, the instruction may be altered only within the period within which payment must be made in relation to the unit under rule 8.1.16 (Payment for issued units—QFC retail schemes) or rule 8.1.19 (Payment for redeemed units—QFC retail schemes).
|Derived from QFCRA RM/2010-05 (as from 1st January 2011)|