Mutual Funds Order, 2001 · s 38

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s 38( 1)

In any proceedings for an offence under this Order, it shall not be necessary to negate by evidence the existence of any licence or permission issued or given under this Order, and the onus of proving the existence of such licence or permission shall be on the person seeking to avail himself of it.

200

(2}

Where in proceedings for an offence under this Order -

{a) the court is satisfied that the defendant caused a prospectus to be issued; and

(b)

having regard to the prospectus or other evidence, it appears to the court to be probable that the prospectus relates or, where appropriate, related to a mutual fund, then, unless the court is satisfied to the contrary, it shall presume that the prospectus relates or, where appropriate, related to a mutual fund.

Offences by bodies corporate.