Schedule 2, Part 1 Criteria applicable to transferable securities which fall within paragraph (a), (b) or (c) of definition in regulation 3(1) of "transferable securities" (para. 1)

Regulation 3(1).

1.

(a) The potential loss which the UCITS may incur with respect to holding the instruments is limited to the amount paid for them.

(b) The liquidity of the instruments does not compromise the ability of the UCITS to comply with Regulation 104(1);

(c) Reliable valuation is available for the instruments as follows:

(i) in the case of securities admitted to or dealt in on a regulated market as referred to in subparagraphs (a) to (d) of paragraph (1) of Regulation 68, in the form of accurate, reliable and regular prices which are market prices or prices made available by valuation systems independent from issuers;

(ii) in the case of other securities as referred to in subparagraph (a) of paragraph (2) of Regulation 68, in the form of a valuation on a periodic basis which is derived from information from the issuer of the security or from competent investment research.

(d) Appropriate information is available for the instruments as follows:

(i) in the case of securities ad

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