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(1)

An operator of a property collective investment scheme must ensure that the following information is disclosed in the collective investment scheme prospectus -

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{a} the nature of the commitment which prospective unit holders will enter into;

{b}

the risks involved in this type of collective investment scheme;

(c}

the prominent risk warning which makes reference to circumstances in property markets which can cause difficulties in meeting redemptions;

(d}

details of the property collective investment scheme's appointed independent valuer;

(e}

the redemption procedures in a prominent position in the prospectus;

(fJ the dividend or income distribution policy;

(g}

the insurance arrangement for the collective investment scheme;

(h}

a statement with respect to any material policy regarding real property activities;

(i} details of transactions or agreements entered into with affected persons;

(}}

full particulars of the nature and extent of the interest, if any, of affected persons, in the property owned or proposed to be acquired by the collective investment scheme;

(k} details of significant holders and the number of units held and deemed to be held by each of them;

(l} details of principal taxes levied on the collective investment scheme's income and capital, including tax, if any, deducted on distribution to unit holders;

(m}

a statement to explain the standards according to which the property valuations are conducted; and

(n}

if applicable, the collective investment scheme is a real estate investment trust and whether the investment vehicle is an investment company or an investment trust.