Version date: 14 March 2018 - onwards
  Version 9 of 9    

iii. Changes to existing closed-ended Qualifying Investor AIFs

Changes to Duration

1. No realistic liquidity provisions: Where there is a proposed change to the duration of a closedended Qualifying Investor AIF with no opportunity for unitholders to redeem or otherwise exit the Qualifying Investor AIF, the Qualifying Investor AIF shall ensure that votes in favour of the change must represent at least 75% of votes cast.

2. Realistic liquidity provisions: Where there is a proposed change to the duration of the Qualifying Investor AIF with an opportunity for unitholders to redeem or otherwise exit the Qualifying Investor AIF, the Qualifying Investor AIF shall ensure that votes in favour of the change must represent at least 50% of votes cast.

Changes to the investment objective or material [In accordance with paragraph 6 of section 3.i of Part I, "material" shall be taken to mean, although not exclusively: "changes which significantly alter the asset type, credit quality, borrowing or leverage limits or risk profile of the Qualifying Investor AIF"]