PRIV 7.2.4 Notification to Regulatory Authority That Scheme Not Commercially Viable etc

(1) If the operator of a scheme believes, on reasonable grounds, that the scheme is not commercially viable or the scheme's purpose cannot be accomplished, the operator must give the Regulatory Authority notice about the matter immediately, but within 1 business day after the day the operator forms the belief.

See examples to rule 4.1.4 (2) on the meaning of 'within 1 business day'.
(2) The notice must include the following information:
(a) the name of the scheme and its registration number given by the Regulatory Authority;
(b) the size and type of scheme;
(c) the number of unitholders;
(d) if the scheme is an open-ended scheme — whether dealing in the scheme's units has been suspended;

Note Open-ended scheme is defined in r 1.2.7 (1).
(e) why the operator believes that the scheme is not commercially viable or the scheme's purpose cannot be accomplished;
(f) what consideration has been given to the scheme entering into a transfer scheme under part 7.3 (Transfer schemes) with another scheme registered in the QFC or a subscheme of an umbrella scheme registered in the QFC and the reasons why a transfer scheme is not possible;
(g) whether unitholders have been told of the intention to seek winding-up and, if not, whether and when they will be told of the intention;
(h) details of any proposed rebate of charges to be made to unitholders who recently purchased units;
(i) the preferred date for the start of the winding-up.
(3) The Regulatory Authority may, in writing, require the operator to provide any further information or documents that the authority reasonably needs in relation to the scheme.
Derived from QFCRA RM/2010-06 (as from 1st January 2011)