Guidance

1. While an Authorised Person is required by virtue of these Rules when making an Offer of a Unit of a Domestic Fund to another Person to make available to that other Person a Prospectus, the obligation to produce a Prospectus is imposed under Rule 9.2 on the Fund Manager of a Domestic Fund.
2. This Chapter sets out the detailed requirements that apply to the Fund Manager who is obliged to produce a Prospectus, and the obligations and liabilities relating to Prospectuses, as well as the obligation relating to making available a Prospectus which applies to the activity of making an Offer of Units.
3. Some requirements relating to Prospectus disclosure are common to all Domestic Funds. However, in other areas, particularly relating to the content of disclosure required in a Prospectus, and the manner of distribution, different requirements apply depending on whether the Fund is a Public Fund, Exempt Fund or Qualified Investor Fund.
4. The requirements relating to Domestic Funds do not apply to a Foreign Fund managed by an Authorised Fund Manager, unless otherwise provided in the FSMR or these Rules. As a result, the general Prospectus requirements set out in these Rules do not apply to Foreign Funds, except that:
a. any offering document prepared in connection with the Foreign Fund is regarded as a Prospectus for the purposes of the requirements relating to the Offer of Units of such a Fund in or from the Abu Dhabi Global Market; and
b. the Regulator has the power to prescribe any additional disclosure to be included in such a document.
Those requirements are specified in Rules 10.1.1 to 10.1.7.