المادة 67: Subscription and Redemption

Article 67: Subscription and Redemption

a. Units in a public fund may only be subscribed for or redeemed on a dealing day. A public fund, which is not a closed-ended fund, shall have not less than two dealing days during each week. A public fund which is a closed-ended investment fund shall have such dealing days as the fund manager specifies in the Fund's Terms and Conditions.

b. The deadlines for submission of requests for subscriptions and redemptions for a public fund must be specified in the public Fund’s Terms and Conditions.

c. The fund operator must process requests for subscriptions or redemption at the price calculated at the next valuation point following the deadline for submission of requests for subscription or redemption.

d. A fund operator must be obliged to meet subscription or redemption requests, subject to any provisions to the contrary in the public Fund’s Terms and Conditions or in these Regulations.

e. The fund operator must pay the unitholder proceeds of redemption no later than the close of business on the fifth day at the latest of the following the valuation point at which the price for the redemption was determined.