PRIV 6.1.5 Limited Issue

If an open-ended scheme limits the issue of units in any class, units in the class can only be issued if the issue—

(a) is in accordance with the constitutional document and the latest filed prospectus; and
(b) will not materially prejudice any existing unitholders.

Note Open-ended scheme is defined in r 1.2.7 (1). Issue, class and latest filed prospectus are defined in the glossary. Constitutional document is defined in r 3.1.1.
Derived from QFCRA RM/2010-06 (as from 1st January 2011)