(1) A responsible person shall ensure that investment by a UCITS in a partly paid transferable security does not expose the UCITS to loss beyond the amount to be paid for it.
(2) For the purpose of ensuring the ability of the UCITS to comply with Regulation 104(1) of the UCITS Regulations, a responsible person shall -
(a) assess (and document this assessment in writing) its liquidity risk, where information is available to the responsible person that would lead it to determine that investment by the UCITS in a transferable security could compromise the ability of the UCITS to comply with Regulation 104(1) of the UCITS Regulations,
(b) assess (and document this assessment in writing), by reference to the factors specified in this sub-paragraph at a minimum, the liquidity risk of a transferable security when investing in any transferable security -
(i) the volume of and turnover in the transferable security,
(ii) if price is determined by supply and demand in the market, the issue size a
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