PRIV 6.3.1 Unitholder Register Requirements
(1) The operator of a scheme must ensure that the unitholder register includes—
(a) the name and address of each person (a relevant person) who is or has been a unitholder (for joint unitholders, no more than 4 persons need to be included); and
(b) the number or percentage of units (including fractions of a unit) in each class held by each relevant person; and
(c) the date each relevant person was registered for the units in the person's name and, if relevant, ceased to be registered for the units in the person's name; and
(2) The operator—
(a) must not enter notice of any trust (whether express, implied or constructive) on the register; and
(b) is not bound by notice of any trust.
(3) The operator must rely on the register as conclusive evidence of the persons entitled to the units entered on it.
(4) The operator must take all reasonable steps to ensure that the information on the register is at all times complete and up to date.
(5) Without limiting subrule (4), the operator must do the following in relation to the register:
(a) take reasonable steps to update the register on receiving written notice of a change of name or address of a unitholder;
(b) ensure that the register, or a copy of the register, is available for inspection in the QFC during ordinary business hours by or on behalf of any unitholder, the Regulatory Authority or the auditor of the scheme;
(c) on request by or on behalf of any unitholder, give the unitholder a copy of the register entries relating to the unitholder;
(d) carry out the conversion of units allowed under rule 6.3.4 (Conversion of units).
(6) If the operator receives written notice of a change of name of a unitholder and a certificate has been issued for the unitholder's units, the operator must also either endorse the existing certificate or issue an updated one.
|Derived from QFCRA RM/2010-06 (as from 1st January 2011)|