An arrangement does not constitute a Collective Investment Fund if the arrangement comprises a closed-ended Partnership or Body Corporate, unless on reasonable grounds the purpose or effect of such an arrangement appears to be the investment management, in the exercise of discretion for a collective purpose, of Investments or Real Property assets for the benefit of the shareholders or partners.
Derived from RM72/2010
(Made 11th July 2010). [VER13/07-10]
(Made 9th December 2015). [VER19/02-16]