Regulatory Alerts2020-10-09
Collective Investment Schemes (Professional Schemes) Amendment Rules 2017
The Minister of Finance and Economic Development, acting on the Securities and Exchange Commission, has amended the 1998 Professional Schemes Regulations to replace "Regulations" with "Rules" and update the definition of appropriate fees. The amendment establishes minimum subscription thresholds for participants, restricts unit transfers or reductions that would fall below these thresholds, and mandates Commission-prescribed valuation for scheme units. These changes streamline regulatory terminology while granting the Commission ongoing authority to set fees and unit valuations for professional investment schemes.
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