Fund Managerof a Public Fund must, by way of a Special Resolution, obtain prior approval from the Unitholders for any proposed change to the Domestic Fund which is a fundamental change.
(2) In addition to the specific fundamental changes in relation to a
Fund prescribed under Article 35(1) of the Law and also under Rules CIR Rule 8.3.2, CIR Rule 8.13.3, CIR Rule 13.4.4(2) and CIR Rule 16.1.3(2), a "fundamental change" under (1) is a change or event which:
(a) changes the purpose or nature of the
(b) may materially prejudice a
(c) alters the risk profile of the
(d) introduces any new type of payment out of
(3) Notwithstanding (2) above, any change may be fundamental depending on its degree of materiality and effect on the
Fund and its Unitholders. Consequently, the Fund Manager must determine whether in each case a particular change is fundamental in nature and, if the Fund is an Investment Trust, obtain the Trustee's agreement to the outcome of the determination.