Regulatory Alerts2021-07-05
Order Exempting Section 238 for Supplementary Prospectus Issuance in Listed Unit Trust Schemes
The Securities Commission issued this order on 5 July 2021 to exempt issuers of listed unit trust schemes from the requirement to issue supplementary or replacement prospectuses under Section 238 of the Capital Markets and Services Act 2007 once their units have been issued. The regulator clarified that the statutory obligation to update prospectuses upon discovering specific material changes was not intended to apply to listed schemes after the initial issuance of units. This exemption applies to Real Estate Investment Trusts and Business Trusts listed or seeking listing on Bursa Malaysia Securities Berhad and became effective immediately upon publication.
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