Person does not make an Offer of a Unit if that Person is an Authorised Firm and it undertakes a Transaction in relation to a Unit of a Fund if the Transaction is:
Execution-Only Transaction undertaken for or on behalf of a Client;
(b) a trade executed for or on behalf of a
Client in accordance with a Discretionary Portfolio Management Agreement entered into with that Client; or
(c) effected with the
Fund Manager of a Fund for the purposes of redeeming a Unit of that Fund for or on behalf of a Client.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]