Securities Markets Regulations, 2015 · s 121

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s 121

(1)

The trustee, custodian or other persons providing oversight of a public collective investment scheme must make a report to unit holders of the collective investment scheme which must be included in the annual report.

!2)

The oversight report must contain -

(a} a description, which may be in summary form, of the duties of the trustee, custodian or other persons carrying out oversight functions and in respect of the safekeeping of the collective investment scheme property; and

(b)

a statement whether, in any material respect

(i)

the issue, sale, redemption and cancellation, and calculation of the price of the units and the application of the collective investment scheme's income, have not been carried out in accordance with the regulations, the constitution and the prospectus; and

(ii)

the investment and borrowing powers and restrictions applicable to the collective investment scheme have been exceeded.

Auditor's report requirements.