Whether the scheme is required to be registered or not? If yes, what the registration process entails. (2 marks)

What would Balderdashs role, duties and responsibilities be in relation to the scheme? (3 marks)

Would they be required to establish a Compliance Committee? If not why not? (2 marks)

If they had to establish a committee, what are the responsibilities of the committee in relation to reporting? (2 marks)

Advise the board of any specific requirements in relation to disclosure when a fund is illiquid (2 marks)

The board has some queries in relation to the scheme constitution. Advise the board as to the purpose of the constitution. Outline what the general content requirements are for a constitution? Who approves the content of this document? (4 marks)