In forceAs enactedCurrent version · As enacted
Securities Markets Regulations, 2015 · As enacted · Chapter V
Securities Markets Regulations, 2015 · As enacted · Chapter V
Official textFrom Attorney General's Chambers, unchanged
(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.
The notification must
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
be accompanied by the relevant unit holders' resolution supporting the operator's views in paragraph (a); or
state the steps the operator have taken or will take to wind up the collective investment scheme.