Article 83(a): Private Placement Requirements

a. A capital market institution may not offer units in a private fund unless the following fulfilled:

1) notifies the Authority in writing in accordance with the format set out in Annex

(6) of these Regulations at least (15) days prior to the proposed date of an offer;

2) submits to the Authority a declaration in accordance with the terms set out in Annex (7) of these Regulations;

3) submits to the Authority copies of the Fund's Terms and Conditions in accordance with the requirements of Annex (11) of these Regulations and any offering documents to be used in advertising the offer; and

4) provide details of the organizational structure of the Fund Manager, including a description of the investment decision-making process of fund manager or sub-fund manager, and the name and function of any registered person in that decision-making process to the Authority.

5) provide a compliance monitoring program for the relevant investment fund.

6) pays such registration fees as the Authority may prescribe.

7) any other information that the Authority requires.