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FPR 2.1.3

If a Passported Fund is a Private Fund, the Fund Manager, its Agent and any other Licensed Person may Promote the Units in the Fund only by way of private placement to Qualified Investors and if the initial subscription is not less than $50,000 (or its equivalent in another currency).

Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]