(1) A responsible person of a UCITS that is a Money-Market Fund shall ensure that the primary investment objectives of the UCITS are to -
(a) maintain the principal of the fund, and
(b) provide a return in line with money-market rates.
(2) A responsible person of a UCITS that is a Money-Market Fund shall ensure that the relevant UCITS -
(a) invests only in the following:
(i) high quality money-market instruments, as determined by the responsible person that comply with the criteria for money-market instruments as set out in the UCITS Regulations;
(ii) deposits with credit institutions referred to in Regulation 7;
(b) takes into account and documents the assessment by the responsible person of at least the following factors, in determining the quality of a relevant investment:
(i) the credit quality of the instrument;
(ii) the nature of the asset class represented by the instrument;
(iii) in the case of a structured financial instrument, the operational and counterparty risk associated
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