(1) Where, by virtue of an investment in the units of another investment fund, a responsible person, an investment manager or an investment adviser receives a commission on behalf of the UCITS (including a rebated commission), the responsible person shall ensure that the relevant commission is paid into the property of the UCITS.
(2) Where a responsible person invests the assets of a sub-fund within an umbrella UCITS in the units of another sub-fund within that umbrella UCITS, that investment is subject to the requirements in paragraph (3), in addition to the provisions of paragraph (1).
(3) The requirements for the purposes of paragraph (2) are:
(a) the investment shall not be made in a sub-fund which itself holds units in any other sub-fund within the umbrella UCITS; and
(b) where a responsible person, on behalf of a sub-fund (the "Investing Fund") of an umbrella UCITS invests in the units of other sub-funds of that umbrella (each a "Receiving Fund"), the rate of the annual mana