Securities Markets Regulations, 2015 · s 125

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s 125

(l)

No promotional payment, performance fee or benefit may be made out of or given at the expense of the collective investment scheme property to the operator unless it is permitted by the constitution and specified in the prospectus.

(2)

Costs of the registration, exemption and incorporation of a collective investment scheme and of its initial offer or issue of units including units in respect of a sub-collective investment scheme may, be amortised over a period not exceeding 5 years.