Regulatory Alerts2019-12-11
Capital Markets and Securities (Collective Investment Schemes) Amendments Regulations, 2011
The Tanzanian Minister for Finance issued Government Notice 213 to amend the Capital Markets and Securities (Collective Investment Schemes) Regulations of 1997. The amendments update prescribed fee structures, set statutory percentages at fifteen and twenty percent, and replace borrowing rules to limit fund debt to fifty percent of total asset value for six months, subject to unit holder approval. Additionally, the notice empowers the regulatory Authority to prescribe operational and investment rules for collective investment schemes targeting specific objectives, geographical regions, or market sectors.
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