PRIV 3.2.3 Bearer Certificates May not be Issued

(1) Bearer certificates may not be issued for units in a scheme.
(2) In this rule:

bearer certificate means a certificate or other document evidencing title that indicates that the bearer is entitled to the units in the scheme stated in it.

Note Document evidencing title is defined in the glossary.
Derived from QFCRA RM/2010-06 (as from 1st January 2011)