Capital protection oriented schemes: new definition, rating, close ended requirement, fee and repurchase restrictions. The amendment defines a capital protection oriented scheme and conditions its launch on unit ratings by a registered credit rating agency and close ended structure, permits the Board to specify further requirements, replaces 'service fee' with 'annual fee,' establishes a two stage filing fee payment (minimum at filing and balance as specified), adds rating fees as permissible expenses for such schemes, prohibits repurchase of units before maturity, and revises Second Schedule fee bases and minima.
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Capital protection oriented schemes: new definition, rating, close ended requirement, fee and repurchase restrictions.
The amendment defines a capital protection oriented scheme and conditions its launch on unit ratings by a registered credit rating agency and close ended structure, permits the Board to specify further requirements, replaces "service fee" with "annual fee," establishes a two stage filing fee payment (minimum at filing and balance as specified), adds rating fees as permissible expenses for such schemes, prohibits repurchase of units before maturity, and revises Second Schedule fee bases and minima.
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