COLL 8.2.14 Prices of Units—QFC Retail Schemes

(1) The operator of a QFC retail scheme must ensure that the price of a unit in any class is calculated—
(a) by reference to the scheme's net asset value at the relevant time; and
(b) in accordance with these rules, the constitutional document and the latest filed prospectus.

Note Class, net asset value and latest filed prospectus are defined in the glossary. Constitutional document is defined in r 3.1.1.
(2) To remove any doubt and without limiting subrule (1), the constitutional document or the latest filed prospectus (or both) may make provision for large deals to be conducted at a higher issue price or lower redemption price than those published for the scheme, if the prices do not exceed the relevant maximum and minimum limits applying under this division.

Note Large deal and redemption are defined in the glossary.
(3) Any unit price calculated in accordance with subrule (1) must be expressed in a form that is accurate to at least 4 significant figures.
(4) For each class of units, a single price must be calculated at which units are to be issued and redeemed.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)