The DFSA would expect the Fund Manager to define 'open market value' to be based on an authoritative text such as the Royal Institute of Chartered Surveyors' Appraisal and Valuation Standards (fifth edition) ("Red Book") or similar practitioners text used by surveyors for the valuation to be a proper valuation under
[CIR Rule 10.5.9](5).
Derived from RM72/2010
(Made 11th July 2010). [VER13/07-10]