Material change

Outcome: An affected Investment is reconfirmed under changed fund terms or enters the applicable cancellation and refund path.

Owner and application

Actors: Issuer, Investor, compliance or legal owner, and Administrator when the decision crosses fund or issuer scope
Applications: Issuer workspace, one Torque Investor experience, and administration workspace for platform-wide exceptions
Conditions: The fund, affected Investments, proposed change, governing rule or agreement, and response deadline are known.

Issuer records the proposed change and sends it to the applicable compliance or legal owner for an applicability decision.
The responsible owner identifies the required filing, disclosure, affected Investors, response window, and decision rule.
Issuer publishes the amendment or change notice through the approved document and notification services.
The Investor reviews the changed terms in the one Torque Investor experience and submits reconfirmation or the permitted cancellation request.
The owning investment service records the response, deadline, status, and evidence.
A reconfirmed Investment remains subject to the fund's closing and escrow conditions. A required non-reconfirmation or permitted cancellation enters the cancellation and refund workflow.

Missing applicability, filing, or disclosure evidence keeps the change unresolved and returns it to Issuer and the compliance or legal owner.
A notification or document-provider failure keeps affected Investments identifiable and assigns recovery to the owning service.
If the Investor cannot respond, the experience shows the recorded deadline and next action. The governing rule or agreement determines the result at the deadline.
An ambiguous response loads the existing Investment record and avoids an unbounded duplicate reconfirmation.
A cancellation or refund remains incomplete until the owning investment, custody, or payment service returns a result and records the audit evidence.

Handoff	Receiving owner	Completion evidence
Proposed change to applicability review	Compliance or legal owner	Fund, changed terms, rule or agreement, and decision
Applicability to notice	Issuer and document or notification service	Amendment, recipients, deadline, and delivery result
Notice to Investor decision	Investment service	Reconfirmation or cancellation, timestamp, and current status
Non-reconfirmation or cancellation to return	Custody, payment, or investment service	Decision, destination, provider result, and audit record
Provider or cross-scope failure to recovery	Owning service and Administrator	Error context, assigned owner, recovery action, and notification