1. The Retail Investor AIF shall not use the word "guaranteed" in the name of a Retail Investor AIF unless there is, as per paragraph 2, a specific legally enforceable guarantee between the Retail Investor AIF and a legally independent third party of substance, for the benefit of the unitholders, the material provisions of which the Retail Investor AIF shall clearly disclose in its prospectus.
2. The guarantee shall, at a minimum, satisfy the following:
(a) it must be evidenced in a contract e.g. a deed of guarantee or an irrevocable letter of credit, which is legally enforceable under Irish law ;
(b) the guarantor must have the legal authority to enter into the contract;