PRIV 7.2.1 Application of pt 7.2 to Subschemes of Umbrella Schemes

This part applies to a subscheme of an umbrella scheme as if—

(a) a reference to a scheme were a reference to the subscheme; and
(b) a reference to units were a reference to units in the class or classes related to the subscheme; and
(c) a reference to a meeting of unitholders were a reference to a meeting of unitholders of the class or classes mentioned in paragraph (b); and
(d) a reference to a special resolution were a reference to a special resolution passed at a meeting of unitholders mentioned in paragraph (c); and
(e) a reference to the scheme property were a reference to the scheme property attributed to the subscheme; and
(f) a reference to liabilities were a reference to liabilities of the scheme attributable to the subscheme; and
(g) all other necessary changes were made.

Note Subscheme and umbrella scheme are defined in r 1.2.8.
Derived from QFCRA RM/2010-06 (as from 1st January 2011)