Neither this chapter nor Chapters 4, 5 or 6 of DTR shall apply in relation to an undertaking that falls within paragraph (2) or units of such an undertaking that fall within paragraph (3). [Note: article 1.2TD].
The exemption set out in paragraph (1) applies to an undertaking if it is a unit trust or investment company
the object of which is the collective investment of capital provided by the public, and which operates on the principle of risk spreading; and
the units of which are, at the request of the holder of such units, repurchased or redeemed, directly or indirectly, out of the assets of that undertaking. [Note: article 2.1(g) TD]
Units of an undertaking that falls within paragraph (2) are securities issued by such an undertaking and representing the rights of the participants in such an undertaking. [Note: article 2.1(h) TD]
Other relevant parts of Handbook
Note: Other parts of the Handbook that may also be relevant to persons to whom the transparency rules apply include DEPP (Decision Procedure and Penalties Manual) and 2Chapter 9 of SUP (the Supervision manual).
The following Regulatory Guides are also relevant:2
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