Deposits
3. A qualifying CIS must invest no more than 20% of its net assets in deposits placed with a single body.
For the purposes of this clause, the limit does not apply to placements of deposits arising from:
(a) subscription monies received at any point in time pending the commencement of investment by a qualifying CIS; or
(b) liquidation of investments prior to the termination or maturity of a qualifying CIS, where the placing of these monies with various bodies would not be in the interests of participants.
Guidance
In the case of (a), the qualifying CIS must readjust the portfolio so that the qualifying CIS meet the 20% limit expeditiously.