The Fund Manager or in the case of an Investment Trust, the Trustee, as the successor in title to the property transferred, may pay out of the Fund Property any liability arising after the transfer which, had it arisen before the transfer, could properly have been paid out of the property transferred, but only if:
(a) there is nothing in the Constitution of the Fund expressly forbidding the payment; and
(b) the Fund Manager or the Trustee, as the case may be, is of the opinion that proper provision was made for meeting such liabilities as were known or could reasonably have been anticipated at the time of the transfer.
Derived from RM72/2010
(Made 11th July 2010). [VER13/07-10]
(Made 9th December 2015). [VER19/02-16]