Securities Markets Order, 2013 · s 223

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223.
Recognised collective investment scheme
(1)
A collective investment scheme which is not a licensed collective investment scheme in Brunei Darussalam but is managed in, and licensed under the law of, a country or territory outside Brunei Darussalam is a recognised collective investment scheme if -
(a) that country or territory is designated for the purposes of this section by an order made by the Authority;
(b) the operator and the custodian of the collective investment scheme have given notice in writing to the Authority that he wishes it to be recognised.
(2)
The Authority may not make an order designating any country for the purposes of this section unless it is satisfied -
(a) that the law and practice under which the relevant collective investment schemes are authorised and supervised in that country or territory affords to investors in Brunei Darussalam at least equivalent to that provided for them by or under this Part in the case of comparable licensed collective investment schemes; and
(b) that adequate arrangements exist, or will exist, for co-operation between the authorities of the country or territory responsible for the licensing and supervision of comparable licensed collective investment schemes.
(3)
The notice to be given by the operator and the custodian under subsection ( 1 )(b) -
(a)
must contain the address for service in Brunei Darussalam; and
(b)
must contain or be accompanied by such information and documents as may be specified by the Authority.
Regulations for recognised collective investment scheme.

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s 223Recognised collective investment scheme

(1)

A collective investment scheme which is not a licensed collective investment scheme in Brunei Darussalam but is managed in, and licensed under the law of, a country or territory outside Brunei Darussalam is a recognised collective investment scheme if -

(a)

that country or territory is designated for the purposes of this section by an order made by the Authority;

(b)

the operator and the custodian of the collective investment scheme have given notice in writing to the Authority that he wishes it to be recognised.

(2)

The Authority may not make an order designating any country for the purposes of this section unless it is satisfied -

(a)

that the law and practice under which the relevant collective investment schemes are authorised and supervised in that country or territory affords to investors in Brunei Darussalam at least equivalent to that provided for them by or under this Part in the case of comparable licensed collective investment schemes; and

(b)

that adequate arrangements exist, or will exist, for co-operation between the authorities of the country or territory responsible for the licensing and supervision of comparable licensed collective investment schemes.

(3)

The notice to be given by the operator and the custodian under subsection ( 1 )(b) -

(a)

must contain the address for service in Brunei Darussalam; and

(b)

must contain or be accompanied by such information and documents as may be specified by the Authority.

Regulations for recognised collective investment scheme.