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  • Chapter 2: Marketing of Domestic Fund

    • 51. Prospectus Requirement

      (1) The Fund Manager of a Domestic Fund other than an External Fund shall:
      (a) produce a Prospectus in accordance with the requirements in this Law; and
      (b) if the Fund is a Public Fund, file a copy of the Prospectus with the DFSA.
      (2) The Fund Manager of an External Fund shall ensure that any prospectus or other disclosure document prepared in accordance with any legislation applicable to that External Fund contains any additional disclosure prescribed by the Rules.

    • 52. Prospectus Content

      (1) The presentation of the information in a Prospectus shall be clear, fair and not misleading.
      (2) A Prospectus shall contain all the information which a person and his professional advisers would reasonably require and expect to find in a Prospectus to be able to make an informed decision to become a Unitholder of the Fund.
      (3) Without limiting the generality of the obligation in Article 52(2), the DFSA may, by Rules, prescribe the information that must be included in a Prospectus for the purposes of this Article, including different provisions for different types of, or specialist classes of, Domestic Funds and any reduced content requirements for Exempt Funds and Qualified Investor Funds.
      (4) If at any time after the issue of a Prospectus there is a material change affecting any matter contained in the Prospectus or a significant new matter arises, the Fund Manager shall in accordance with the requirements prescribed in the Rules issue a Supplementary or a Replacement Prospectus.

    • 53. Publicity

      (1) A person undertaking a financial promotion in respect of a Prospectus shall ensure that:
      (a) the information contained in the Prospectus complies with this Law and the Rules made for the purposes of this Law;
      (b) the Fund Manager, in the case of a Public Fund, has filed a copy of the Prospectus with the DFSA; and
      (c) the financial promotion states a Prospectus has been published and gives an address where a copy may be collected in the DIFC.
      (2) Nothing in Article 53(1) prevents a person from issuing a financial promotion before the issue of a Prospectus provided it clearly states that a Prospectus will be issued and where a copy may be collected in the DIFC.