COLL 8.6.1 Payments—QFC Qualified Investor Schemes

(1) The operator of a QFC qualified investor scheme must ensure that the scheme does not incur any expense in relation to any movable or immovable property unless—
(a) investing in the property is in accordance with the scheme's investment objectives, strategies and policy; or
(b) the property is necessary for the direct pursuit of the scheme's business of investing in any investments to which it is dedicated.
(2) Payments made by the independent entity out of the scheme property may be made from capital property rather than from income if the basis for this is set out in the latest filed prospectus.

Note Capital property and latest filed prospectus are defined in the glossary.
(3) Subrule (2) does not apply to payments for redemptions of units.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)