PRIV 6.4.4 Consequences of Removal or Retirement of Operator

(1) If the operator of a scheme is removed or retires, it is entitled to continue to be recorded in the unitholder register for the units it holds.
(2) Subrule (1) is subject to any restriction in the latest filed prospectus relating to the permitted categories of unitholders.

Note Latest filed prospectus is defined in the glossary.
(3) If the operator of a scheme is removed or retires, the operator must, without delay, transfer or deliver the scheme property held by it to the replacement operator unless the QFC Court otherwise orders.
(4) Until all the scheme property has been transferred or delivered, the operator remains accountable for it to the unitholders.
Derived from QFCRA RM/2010-06 (as from 1st January 2011)