Article 12: Register of Unitholders

Article 12: Register of Unitholders

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

b. The Fund Operator may engage a capital market institution licensed to carry out the activity of managing investments and operating funds or an investment fund distribution platform, pursuant to a contract in writing to establish and maintain a register of unitholders referred to in Paragraph (a) of this Article.

c. Notwithstanding the appointment of another entity referenced in Paragraph (b) of this Article, the fund operator shall remain responsible for the discharge of all its duties in relation to the register under these Regulations.

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

e. The fund operator 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.

f. 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.

g. The fund operator must update the register of unitholders immediately to reflect changes to information referred to in Paragraph (e) of this Article.

h. The traded funds shall be exempted from the provisions of this Article.