(1) A responsible person shall, in the prospectus of the UCITS, disclose, and describe in a comprehensive manner, the risks that are applicable to investing in that particular UCITS.
(2) A disclosure for the purposes of paragraph (1) shall make reference to at least the following:
(a) the fact that prices of units may fall as well as rise;
(b) that investors are recommended to consult a stockbroker or financial adviser about the contents of the prospectus;
(c) where relevant, the fact that the difference at any one time between the sale and repurchase price of units in the UCITS arising from the repurchase charge means that the investment should be viewed as medium term to long term investment.
(3) A responsible person of a UCITS that has investment objectives or an investment policy that involves investing -
(a) more than 20 per cent of the assets of the UCITS in emerging markets,
(b) more than 30 per cent of the assets of the UCITS in bonds or warrants that are below investment grade
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