Regulatory Alerts2020-10-09
Collective Investment Schemes (Internal Schemes) Amendment Rules 2017
The Minister of Finance and Economic Development, acting on the Securities and Exchange Commission, issued Statutory Instrument 108 of 2017 to amend the 1998 Collective Investment Schemes (Internal Schemes) Regulations. The amendment replaces "Regulations" with "Rules", updates the definition of appropriate fees, and mandates that paid-up share capital and professional indemnity requirements be prescribed by the Commission. It further allows public access to trust deeds for a maximum fee of five dollars, deletes Section 12, and revises the Second Schedule to clarify trust deed limits, minimum unit holdings, and prescribed aggregate value thresholds.
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