27. Retirement or removal of an Operator

Past version: effective from 18/04/2006 - 31/07/2006
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(1) The DFSA may make Rules prescribing the manner and circumstances in which:
(a) an Operator may retire;
(b) Unitholders in a Fund may resolve to remove an Operator;
(c) the DFSA may withdraw an Operator's Licence;
(d) a new Operator may be appointed to a Fund; and
(e) a temporary Operator may be appointed to a Fund pending the choice or appointment of a new Operator.
(2) A person cannot be chosen or appointed as a new Operator or temporary Operator unless such a person meets the requirements of Article 17(2)(a) and (b).