COLL 8.1.20 Issue or Redemption Otherwise than for Cash—QFC Retail Schemes

The independent entity of a QFC retail scheme may take into or transfer out of the scheme property assets other than cash as payment for the issue or redemption of units, but only if—

(a) it has taken reasonable care to ensure that the assets would not be likely to result in any material prejudice to the interests of unitholders; and
(b) the constitutional document and the latest filed prospectus permit it.

Note Issue and redemption are defined in the glossary. Constitutional document is defined in r 3.1.1.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)