Aberdeen Investment Funds ICVC - Aberdeen Asset Management

Investment and Borrowing Powers continued
42.3 Paragraph 42.1 does not prevent the Fund from providing an officer of the Fund with funds to meet expenditure
to be incurred by him for the purposes of the Fund (or for the purposes of enabling him properly to perform his
duties as an officer of the Fund) or from doing anything to enable an officer to avoid incurring such expenditure.
43. RESTRICTIONS ON LENDING OF PROPERTY OTHER THAN MONEY
43.1 The Scheme Property of the Fund other than money must not be lent by way of deposit or otherwise.
43.2 Transactions permitted by paragraph 47 are not lending for the purposes of paragraph 43.1.
43.3 The Scheme Property of the Fund must not be mortgaged.
43.4 Where transactions in derivatives or forward transactions are used for the account of the Company in accordance
with any of the provisions of this Appendix, nothing in this paragraph 43 prevents the Company or the
Depositary at the request of the Company from lending, depositing, pledging or charging scheme property for
margin requirements or transferring scheme property under the terms of this agreement in relation to margin
requirements, provided that the ACD reasonably considers that both the agreement and the margin arrangements
made under it (including in relation to the level of margin) provide appropriate protections to Shareholders.
44. GENERAL POWER TO ACCEPT OR UNDERWRITE PLACINGS
44.1 Any power in Chapter 5 of the COLL Sourcebook to invest in transferable securities may be used for the purpose
of entering into transactions to which this paragraph applies, subject to compliance with any restriction in the
Instrument of Incorporation.
44.2 This section applies, subject to paragraph 44.3, to any agreement or understanding:
44.2.1 which is an underwriting or sub-underwriting agreement; or
44.2.2 which contemplates that securities will or may be issued or subscribed for or acquired for the account of
the Fund.
44.3 Paragraph 44.2 does not apply to:
44.3.1 an option; or
44.3.2 a purchase of a transferable security which confers a right:
44.3.2.1 to subscribe for or acquire a transferable security; or
44.3.2.2 to convert one transferable security into another.
44.3.3 The exposure of the Fund to agreements and understandings within paragraph 44.2 must, on any
business day:
45. GUARANTEES AND INDEMNITIES
44.3.3.1 be covered in accordance with the requirements of rule 5.3.3R of the COLL Sourcebook; and
44.3.3.2 be such that, if all possible obligations arising under them had immediately to be met in full,
there would be no breach of any limit in Chapter 5 of the COLL Sourcebook.
45.1 The Fund or the Depositary for the account of the Fund must not provide any guarantee or indemnity in respect
of the obligation of any person.
45.2 None of the Scheme Property of the Fund may be used to discharge any obligation arising under a guarantee or
indemnity with respect to the obligation of any person.
45.3 Paragraphs 45.1 and 45.2 do not apply in respect of the Fund to:
45.3.1 any indemnity or guarantee given for margin requirements where the derivatives or forward transactions
are being used in accordance with the FSA rules;
45.3.2 an indemnity falling within the provisions of regulation 62(3) (Exemptions from liability to be void) of
the OEIC Regulations;
45.3.3 an indemnity (other than any provision in it which is void under regulation 62 of the OEIC Regulations)
given to the Depositary against any liability incurred by it as a consequence of the safekeeping of any
of the Scheme Property by it or by anyone retained by it to assist it to perform its function of the
safekeeping of the Scheme Property; and
70 Aberdeen Investment Funds ICVC Prospectus November 2011