المادة 5(a): Conditions for Offering Units of the Financing Fund

a) The following conditions shall be satisfied when establishing and offering units of the Financing Fund:

1) The Fund shall be closed-ended; Where the fund is a private fund, it may be an open-ended fund, provided that the fund’s Terms and Conditions include a clear policy for dealing with subscription and redemption requests and liquidity management to meet such requests.

2) The procedures and policies for managing the Fund’s risks shall be specified, including the Fund’s risk level.