Article 11: Register of Unitholders

Article 11: Register of Unitholders

a. The fund manager must establish a register of unitholders and must maintain it in the Kingdom.

b. A fund manager may delegate a third party to establish and maintain a register of unitholders referred to in Paragraph (a) of this Article, provided that the following must be fulfilled:

1) The appointment must be pursuant to a written agreement.

2) The delegate must be a capital market institution licensed to carry out the activity of managing investments and operating funds.

c. The register shall be conclusive evidence as to the persons entitled to units entered on the register.

d. The fund manager must maintain at least the following information in the register:

1) The name, address and contact numbers of each unitholder;

2) The national identification number, residence number (Iqama), passport number or commercial registration number of the unitholder when applicable, or any other identification as determined by the Authority;

3) The nationality of the unitholder;

4) The date on which the unitholder was registered in the register;

5) Details of all transactions in relation to units conducted by each unitholder; and

6) The current balance of the number of units (including fractions of a unit) held by each unitholder.

7) Any restriction or right attached to units owned by the unitholder.

e. The register of unitholders must be made available for inspection by the Authority at its request. A summary must be provided by the fund manager to any unitholder free of charge upon request, such summary must show all the information that is relevant to the requesting unitholder only.

f. The fund manager must update the register of unitholders immediately to reflect changes to information referred to in Paragraph (d) of this Article.