Criteria for sub-class public fund

(1) A public fund shall be deemed to be a selective public fund where all interests in the public fund are offered by a person who is entitled to provide investment services (by whatever name called) under the laws of Belize or a recognised country or jurisdiction, and that personCriteria for sub- class public fund. (a) has a written agreement with the investor which covers the offering of an interest in the fund; and (b) has assessed the suitability of the fund with regard to the agreement and the investment objectives of the investor. (2) The stipulated in paragraph (a) of subregulation (1) above shall not be contravened if an investment is made in the public fund as a result of a direct approach by an investor which was not solicited by the fund or a person connected with the fund. 9 Recognised Managers