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Jul 11 2010 - Dec 17 2018Dec 18 2018 onwards

37. Suspension of Dealings in Units



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Past version: effective from Jul 11 2010 - Dec 17 2018.
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(1) The Fund Manager may, in the case of an open-ended Domestic Fund, temporarily suspend the issue, cancellation, sale and redemption of Units ("dealings in Units") in the Fund where:
(a) due to exceptional circumstances it is in the interest of the Unitholders in the Fund to do so; and
(b) if there is an appointed Trustee:
(i) it has obtained the prior agreement of the Trustee for the suspension of dealings in Units; or
(ii) in the event that no agreement can be reached with the Trustee, upon request to the DFSA, the DFSA has issued a stop order under Article 69.
(2) The Fund Manager shall continue the suspension of dealings in Units only for so long as it reasonably believes that the suspension is in the interests of the Unitholders of the Fund.
(3) Upon suspension of dealings in Units, the Fund Manager shall, in writing, notify the DFSA immediately, and the Unitholders as soon as practicable, of the suspension and its reasons for doing so.
(4) This Article and Rules made for the purposes of this Article apply to an open-ended cell of a Protected Cell Company as if that cell were an open-ended Fund.
(5) The DFSA may, by Rules, prescribe any additional requirements or matters relating to the suspension of dealings in Units in an open-ended Domestic Fund.