COLL 8.8.3 Unclaimed, Minimal and Joint Unitholders Distributions—All QFC Schemes

(1) Any distribution of a QFC scheme that is unclaimed after 6 years (or, if the latest filed prospectus provides for a longer period, that period) becomes part of the capital property.

Note Latest filed prospectus and capital property are defined in the glossary.
(2) The operator and independent entity of a QFC scheme may agree a minimal amount in relation to which a distribution of income is not required, and how any such amounts are to be treated.
(3) A distribution of a QFC scheme made to the joint unitholder named first on the unitholder register is as effective a discharge to the operator and independent entity as if that joint unitholder had been the sole unitholder.

Note Unitholder register is defined in the glossary.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)