Regulation 22(1) A registered scheme may consist of a single constituent fund, or of two or more constituent funds.(2) A constituent fund shall be approved by the Authority.(3) Where the scheme comprises two or more constituent funds, each of the funds shall have different investment policies.(4) The Authority may cancel the approval of a constituent fund of a scheme on application made by an approved trustee of the registered scheme. (5) An application under sub regulation (4) shall(a) be in a form approved by the Authority; (b) be accompanied by the relevant documents, and (c) contain any other information specified in the Guidelines of the Authority. (6) The Authority may, by written notice, require an applicant to provide additional information and documents reasonably necessary for the determination of an application. (7) Where a requirement is not complied with within a reasonable time specified in the notice, the Authority may reject the application.(8) Where a registered scheme is cancelled, the approval granted in respect of each constituent fund of the registered scheme shall be considered as cancelled.