COLL S1.1 Individual Investment Management Arrangements

An arrangement is not a scheme if—

(a) the property to which the arrangement relates (other than cash awaiting investment) consists of investments of 1 or more of the following kinds:
(i) shares;
(ii) debt instruments;
(iii) warrants;
(iv) options;
(v) units in a collective investment scheme;
(vi) long term insurance contracts; and

Note Investment, share, debt instrument, warrant, option and long term insurance contract are defined in the glossary. Unit is defined in r 1.2.4.
(b) each participant in the arrangement is entitled to a part of the property and to withdraw the part at any time; and
(c) each of the following provisions applies to the arrangement:
(i) the contributions of the participants are not pooled;
(ii) the profits or income out of which payments are to be made are not pooled;
(iii) the parts of the property to which the different participants are entitled are bought and sold separately only when a person becomes or ceases to be a participant.
Derived from QFCRA RM/2010-05 (as from 1st January 2011)