The investments of a UCITS must consist solely of any one or more of the following:
(a) transferable securities admitted to official listng on a stock exchange in a Member State;
(b) transferable securities dealt in on another regulated market in a Member State which operates regularly and is recognised and open to the public;
(c) transferable securities admitted to official listing on a stock exchange in a non-Member State or dealt in on another regulated market in a non-Member State which operates regularly and is recognised and open to the public provided that the choice of stock exchange or market has been approved by the Bank or is provided for in the trust deed or in the investment company's articles;
(d) recently issued transferable securities, provided -
(i) the terms of issue include an undertaking that application will be made for admission to official listing on a stock exchange or to another regulated market which operates regularly and is recognised and open to the pu