Home   Browse contents   View updates   Search  
     Quick search
Go
   

Whole SectionText only Print Print Manager Link


  Versions
(2 versions)
 
Aug 1 2006 - Jul 10 2010Jul 11 2010 onwards

23. Trustee's reporting and disclosure obligations



Whole Section PDF

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

(1) The Trustee shall, as soon as practicable after becoming aware that there is a breach of the Trust Deed, this Law, the Collective Investment Law 2010 or any rules made for the purposes of those laws, or of any other relevant obligations imposed under a Licence condition of the Fund Manager or any other person performing any function in respect of or providing any services to the Investment Trust, report that breach to the DFSA.
(2) The Trustee is required to report a breach under (1) only where it is of the opinion on reasonable grounds that the breach has had, or is likely to have, a materially adverse effect on the interests of the Unitholders. The Trustee must report such a breach to the DFSA whether or not the Fund Manager has already taken any steps to remedy that breach.
(3) The Trustee shall provide to the Fund Manager or any other person providing oversight function any information that the Fund Manager, or the person providing the oversight function, may reasonably require relating to the Investment Trust as soon as possible after a request has been made for such information.
(4) The Trustee shall disclose to the auditor of the Investment Trust all such information that is required by the auditor to carry out its audit functions relating to the Trust.