PRIV 7.2.6 Accounting and Reports During Winding-Up

(1) While a scheme is being wound up, whether under rule 7.2.5 (Winding-up by operator) or otherwise—
(a) the annual accounting periods and half-yearly accounting periods of the scheme continue to run; and
(b) the provisions of these rules about annual and interim allocation of income continue to apply to the scheme; and
(c) reports to unitholders and the Regulatory Authority continue to be required in relation to the scheme.
(2) However, if the operator, after consulting the scheme's auditor and the Regulatory Authority, decides on reasonable grounds that timely preparation of a report under these rules is not required in the interest of unitholders or the Regulatory Authority, the operator may dispense with preparation of the report within the time otherwise required by these rules.
(3) A period to which subrule (2) applies must be covered in the next relevant report required under these rules.
(4) At the completion of the winding-up, the accounting period then running is regarded as the final annual accounting period.
(5) Within 2 months after the end of the final annual accounting period, the final report of the operator must be sent to the Regulatory Authority and each person who was a unitholder immediately before the end of the final annual accounting period.
(6) This rule is subject to any order of the QFC Court.
Derived from QFCRA RM/2010-06 (as from 1st January 2011)