CIR App 2 CIR App 2 Meeting Procedures
CIR A2.1 CIR A2.1 Nomination of a Chair
CIR A2.1.1(1) A
Fund Managerof a Public Fund, or in the case of a Fundwhich is structured as an Investment Trust, the Trustee, must nominate in writing a Personto be the chairman of a meeting of Unitholdersand such a Personmust be a Unitholderother than the Fund Manager.(2) If no such chairman is nominated or if at any meeting the Personnominated is not present within 15 minutes after the time appointed for holding the meeting, the Unitholderspresent must choose another chairman.(3) In the case of an equality of votes cast whether on a show of hands or on a poll in respect of a resolution put to a meeting of the Unitholders, any chairman appointed in accordance with the Constitutionor under these Rulesis entitled to a casting vote in addition to any other vote the chairman may have.
Notice of Meetings
Unitholdersof a Public Fundmust be given at least 14 days written notice or any longer period of notice specified for the purpose in the Constitutionor these Rules, inclusive of the date on which the notice is first served and the day of the meeting.(2) The notice must specify the place, day and hour of the meeting and the terms of the resolutions to be proposed.(3) In the case of an Investment Trust, unless the Trusteehas convened the meeting, a copy of the notice must be sent to the Trustee no later than the time at which it is sent to the Unitholders.(4) The accidental omission to give notice to, or the non-receipt of notice by, any of the Unitholdersdoes not invalidate the proceedings at any meeting.(5) Notice of any adjourned meeting of Unitholdersmust be given to Unitholdersand, if relevant, to the Trustee.
CIR A2.1.3(1) In the case of an
Investment Trust, the quorum at a meeting of Unitholdersis the Unitholderspresent in person or by proxy or, in the case of a body corporate, by a duly authorised representative, of one-tenth in value or any proportion more than one-tenth in value specified for this purpose in the Trust Deedof all the Unitsin issue.(2) In the case of an Investment Company, the quorum at a meeting of Unitholdersis two Unitholders, present in Personor by proxy or, in the case of a Body Corporate, by a duly authorised representative.(3) Business must not be transacted at any meeting unless the requisite quorum is present at the commencement of business.(4) If within half an hour from the time appointed for the meeting, a quorum is not present, the meeting:(a) if convened on the requisition or request of Unitholders, must be dissolved; and(b) if any other case, must stand adjourned to:(i) a day and time which is seven or more days after the day and time of the meeting; and(ii) a place to be appointed by the chairman if a chairman has been appointed in accordance with the Constitutionor otherwise by the Operator.(5) If, at an adjourned meeting under (4)(b), a quorum is not present within 15 minutes from the time appointed for the meeting, one person entitled to be counted in a quorum present at the meeting is a quorum.(6) Notice of any adjourned meeting of Unitholdersmust be given to Unitholders. That notice must state that one or more Unitholderspresent at the adjourned meeting whatever their number and whatever the number of Unitsheld by that Unitholderor Unitholderswill form a quorum.
CIR A2.1.4(1) No
Fund Manager, or other member of the Governing Bodyof the Fundis entitled to be counted in the quorum of, and no Fund Manageror other member of the Governing Bodyof the Fundnor any associate of such a Personis entitled to vote at, any meeting of the Fund.(2) The prohibition in (1) does not apply to the exercise of voting rights attaching to any Unitswhich the Fund Manageror other member of the Governing Bodyof the Fundor its associate holds on behalf of, or jointly with, another Personwho is not subject to the prohibition in (1) and from whom the Fund Manageror other member of the Governing Bodyof the Fundor its associate, as the case may be, has received voting instructions.(3) Therefore, for the purpose of Rule, Unitsheld, or treated as held, by any Fund Manageror other member of the Governing Bodyof the Fund, must not, except as mentioned in (2), be regarded as being in issue.
If a resolution is required under these Rules for the approval of a
Related Party Transaction, a Unitholderwho is the Related Partyproposing to enter into the transaction, and a Unitholderwho is an Associateof that Related Party, is not entitled to vote on the resolution.[Added] RM158/2015 (Made 9th December 2015). [VER19/02-16]