المادة 65: Notification to the Authority and Unitholders of non-Fundamental Changes

Article 65: Notification to the Authority and Unitholders of non-Fundamental Changes

a. The fund manager must notify the Authority and unitholders, and disclose on its website and any other website available to the public according to the controls set out by the Authority regarding any non-fundamental changes in the public fund that it manages (10) days before the change becomes effective, and unitholders of an open-ended public fund have the right to redeem their units before any non-fundamental change takes effect without imposing any redemption fees (if any).

b. The fund manager must obtain the fund board approval before carrying out any non-fundamental change.

c. For the purposes of these Regulations, “non-fundamental change” means a change, excluding Article (64) provisions of these Regulations.

d. Details of all non-fundamental changes must be included in the next fund report prepared by the fund manager pursuant to Article (78) of these Regulations.

e. The traded funds shall be exempted from the requirement to send the notice to all unitholders mentioned in Paragraph (a) of this Article, provided that the announcement of such shall be made on the fund manager's website and the Exchange’s website.