Home   Browse contents   View updates   Search  
     Quick search
Go
   

Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Collective Investment Rules (CIR) [VER24/02-19]
Part 6 Rules Specific to Specialist Classes of Domestic Funds
CIR 13 Additional Requirements for Specialist Funds
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

Whole SectionText only Print Print Manager Link


  Versions
(1 version)
 
Feb 1 2016 onwards

CIR 13.4.11A



Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) The Fund ManagerG of a Public Property FundG is not required to comply with CIR Rule 8.3.2(3) and (4)(a) for a Related Party TransactionG if:
(a) the transaction is for the acquisition or sale of Real PropertyG in the StateG ;
(b) the Fund ManagerG has general Unitholder approval in accordance with (2) to enter into such transactions;
(c) the oversight provider of the FundG has confirmed in writing, before the transaction is entered into, that it is on terms that comply with the requirement in CIR Rule 8.3.2(2) and that all other applicable requirements have been complied with; and
(d) the investment committee of the FundG has confirmed in writing, before the transaction is entered into, that it is on terms that comply with the requirement in CIR Rule 8.3.2(2) and it has no objection to the transaction.
(2) UnitholderG approval under (1)(b) must be by way of an ordinary resolution of the UnitholdersG of the FundG that:
(a) was passed at the previous annual general meeting of the FundG ;
(b) is valid only until the date of the next annual general meeting of the FundG (when it may be renewed): and
(c) authorises the Fund ManagerG to enter into Related Party TransactionsG referred to in (1)(a) without obtaining prior UnitholderG approval in each case during the period for which the resolution is valid.
(3) If a Fund ManagerG of a Public Property FundG enters into a Related Party TransactionG under this Rule, it must as soon as practicable after entering into the transaction provide written notification to UnitholdersG of the FundG setting out relevant details of the transaction including the identity of the Related PartyG and the nature and extent of his interest.
[Added] RM158/2015 (Made 9th December 2015). [VER19/02-16]