PRIV 3.1.3 Relationship Between Constitutional Document and These Rules

(1) The constitutional document of a scheme must not contain a provision—
(a) that conflicts with any provision of these rules; or
(b) that is unfairly prejudicial to the interest of unitholders generally or to the unitholders of any class of units.

Note Class is defined in the glossary.
(2) A provision of the constitutional document of a scheme has no effect to the extent—
(a) that it conflicts with any provision of these rules; or
(b) that it is unfairly prejudicial to the interest of unitholders generally or to the unitholders of any class of units.
(3) However, a provision of the constitutional document of a scheme must not be taken to conflict with a provision of these rules to the extent it can operate concurrently with the provision of these rules.
(4) Any power given by these rules to a scheme, or to the operator of a scheme, is subject to any applicable condition, restriction or requirement in the scheme's constitutional document.
Derived from QFCRA RM/2010-06 (as from 1st January 2011)