1. The Retail Investor AIF may invest more than 30% of net assets in an open-ended investment fund and may disregard paragraph 10 of section 1.ii (Investment restrictions) of Part I provided that the underlying fund is a Category 1 investment fund or a Category 2 investment fund.
2. In the case of a Category 1 investment fund, the Retail Investor AIF shall provide the Central Bank with the prospectus of the underlying investment fund in advance of investing more than 30% of net assets in that investment fund.
(a) In the case of a Category 2 investment fund, the Retail Investor AIF shall not invest more than 30% of net assets in an open-ended investment fund without having obtained a confirmation in writing from the Central Bank that it has no objection. Further, the Retail Investor AIF shall provide the Central Bank with the prospectus of the underlying investment fund.
(b) The Retail Investor AIF shall provide a letter to the Central Bank confirming that the underlying investment f
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