CIUs shall be eligible for the approach set out in Article 350, where all the following conditions are met:
(a) the CIU's prospectus or equivalent document shall include all of the following:
(i) the categories of assets in which the CIU is authorised to invest;
(ii) where investment limits apply, the relative limits and the methodologies to calculate them;
(iii) where leverage is allowed, the maximum level of leverage;
(iv) where concluding OTC financial derivatives transactions or repurchase transactions or securities borrowing or lending is allowed, a policy to limit counterparty risk arising from these transactions;
(b) the business of the CIU shall be reported in half-yearly and annual reports to enable an assessment to be made of the assets and liabilities, income and operations over the reporting period;
(c) the shares or units of the CIU shall be redeemable in cash, out of the undertaking's assets, on a daily basis at the request of the unit holder;
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