IFM09220 - Eligibility criteria: Ownership conditions: Introduction
The purpose of the ownership requirement, in broad terms, is to prevent participants in co-ownership schemes that are only open to a very small or defined pool of investors, or to connected persons, benefitting from coming within the RIF regime.
The ownership requirement is met at any time where the scheme meets either the genuine diversity of ownership condition (IFM09225) or the non-close condition (IFM09230).