Qualified Institutional Investors (“QIIs”) and Eligible Investors (“EIs”) as defined in the Rules, can invest in CPs. The IPCA/IPA shall ensure that QIIs and EIs meet the qualifying criteria set out in the Rules. Whilst guaranteed CPs may be sold to all investors (QIIs, EIs, and any other investor), clean CPs shall only be sold to QIIs and EIs upon the execution of a declaration attesting to the investor’s awareness of the risks involved in investing in the clean CPs.