Fund Manager must:
(a) ensure that at each valuation point there are at least as many
Units in issue of any class as there are Units registered to Unitholders of that class; and
(b) not do, or omit to do, anything that is or is reasonably likely to confer on itself a benefit or advantage at the expense of a
Unitholder or prospective Unitholder.
(2) Where a
Fund Manager has not complied with (1) or there is any other valuation error, it must correct the error as soon as possible and must reimburse the Fund any costs it may have incurred in correcting the position, subject to any reasonable minimum level for such reimbursement as set out in the Prospectus.
(3) If the
Fund is structured as an Investment Trust:
Fund Manager must notify the Trustee of the matters specified in (2);
Trustee must also:
(i) take reasonable steps to ensure that the
Fund Manager complies with the matters specified in (1) and (2); and
(ii) provide any other notification required under these
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]