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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Collective Investment Rules (CIR) [VER25/07-19]
Part 4 Core Rules Relating to Establishment and Management of Domestic Funds
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
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Financial Markets Tribunal
Archive

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  Versions
(2 versions)
 
Jul 11 2010 - Dec 17 2018Dec 18 2018 onwards

CIR 8.6.1

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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) A Fund ManagerG of an Open-ended Fund must, within any conditions in its constitution and offer documents:
(a) at all times during the dealing day, be willing to issue or sell UnitsG in the FundG to any eligible ClientG ; and
(b) do so in a manner that is fair and reasonable as between all UnitholdersG and prospective UnitholdersG for whom the Fund ManagerG does not have reasonable grounds to refuse such issue or sale.
(2) A Fund ManagerG of an Open-ended Fund must, within any conditions in its constitution and offer documents:
(a) at all times during the dealing day, be willing to effect a redemption of the UnitsG on the request of any UnitholderG ; and
(b) do so in a manner fair and reasonable as between redeeming UnitholdersG and continuing UnitholdersG .
(3) On agreeing to a redemption of UnitsG within (2), the Fund ManagerG must pay the full proceeds of the redemption to the UnitholderG within any reasonable period specified in the constitution and offer documents, unless it has reasonable grounds for withholding payment.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
[Amended] DFSA RM218/2018 (Made 22nd February 2018) [VER23/12-18]