Securities Markets Regulations, 2015 · s 105

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 105

(1)

If, at any time after the amount of the collective investment scheme's capital has reached the minimum as provided in its constitution and that capital falls below the minimum, the operator must immediately notify the Authority of that fact.

(2)

The notification must

(a)

state the operator's grounds for believing that the collective investment scheme is still commercially viable and the purpose of the collective investment scheme may still be accomplished; and

(b)

be accompanied by the relevant unit holders' resolution supporting the operator's views in paragraph (a); or

(c)

state the steps the operator have taken or will take to wind up the collective investment scheme.