COLL 8.6.4 Charges on Buying and Selling Units—QFC Retail Schemes

(1) Only the operator of a QFC retail scheme may impose charges on unitholders or potential unitholders when they buy or sell units in the scheme.
(2) The operator of a QFC retail scheme must not make any charge or levy in relation to—
(a) the issue of units, except as permitted by subrule (3); or
(b) the redemption of units, except as permitted by subrule (4).

Note Issue and redemption are defined in the glossary.
(3) Subrule (2) (a) does not prevent an issue charge made in accordance with the latest filed prospectus if the charge is a fixed amount or calculated as a percentage of the price of a unit.

Note Issue charge and latest filed prospectus are defined in the glossary.
(4) Subrule (2) (b) does not prevent a redemption charge made in accordance with—
(a) the prospectus that was the latest filed prospectus when the units were purchased by the unitholder; and
(b) rule 8.6.5.

Note Redemption charge is defined in the glossary.
(5) This rule is subject to rule 8.2.16 (Dilution—QFC retail schemes).
Derived from QFCRA RM/2010-05 (as from 1st January 2011)