COLL 8.2.17 Particular Duties of Independent Entity in Relation to Dilution—QFC Retail Schemes

(1) The independent entity must take reasonable care to ensure that—
(a) the operator considers whether or not to exercise the power under rule 8.2.16 (Dilution—QFC retail schemes) to require a dilution levy and, if applicable, the rate or amount of any dilution levy that is required; or

Note Dilution levy is defined in the glossary.
(b) the operator has, in considering the matters mentioned in paragraph (a), taken into account all factors that are material and relevant to the operator's decision; and
(c) the operator has, in considering whether to exercise the power under rule 8.2.16 to require a dilution levy, acted in accordance with the restrictions of that rule.

Note See r 4.2.3 (2) for other duties of the independent entity in relation to pricing.
(2) To remove any doubt, the independent entity has no duty in relation to the operator's exercise of any discretion mentioned in subrule (1).
Derived from QFCRA RM/2010-05 (as from 1st January 2011)