Instrument Constituting the Fund
CIR 7.1.2 CIR 7.1.2(1) The
Fund Managerand, in the case of an Investment Trust, both the Fund Managerand the Trusteeof a Fund, must ensure that the written Constitutionwhich every Fundis required to have pursuant to Article 27(1) of the Law:(a) contains the statements and disclosures prescribed in the table in CIR App5 as are applicable to the Fund; and(b) does not contain any provision that is prejudicial to the interests of the Unitholdersgenerally or to the Unitholdersof any class of Units.(2) The Fund Managerand, in the case of an Investment Trust, both the Fund Managerand the Trustee, are responsible for maintaining the Constitutionand for making necessary alterations to it in accordance with the applicable legislation.Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
CIR 7.1.2 Guidance
In the case of a Fund on a Fund Platform, such a Fund, being an Incorporated Cell of an Incorporated Cell Company, needs its own Articles of Association under the ICC Regulations.
CIR 7.1.3(1) A
Fund Managermay issue and in the case of an Investment Trust, may instruct the Trusteeto issue such classes of Unitsas are set out in the Constitution, provided the rights of any class are not unfairly prejudicial to the interests of the Unitholdersof any other class of Unitsin that Fund.(2) Unitswhose issue may be limited can be issued by a Fund Managerif permitted by the Constitutionand if in accordance with the conditions set out in the Prospectus, provided that such issue will not materially prejudice any existing Unitholdersin the Fund.(3) In the case of an Investment Trust, the Trusteemust take reasonable measures to ensure, before carrying out the Fund Manager'sinstructions, that those instructions comply with the requirements in (1) and (2).Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]