Article 85 · Investment Funds Regulations

Article 85: Units

a. The subscribed units shall be owned by the potential unitholder when the subscription request is executed on the dealing day following the deadline for submission of requests for subscription and redemption.

b. The unitholder shall be entitled to exercise all rights in relation to the units (including, but not limited to, the right to vote at meetings of unitholders).

c. Other than losing his\her investment in the fund or part of it, the unitholder shall not be liable for the debts and obligations of the relevant private fund.

d. The private fund may issue more than one class of units, and all unitholders from the same class must have equal rights and be treated equally by the fund manager. No class of unitholders shall have a different investment strategies and goals that differ from the investment strategies and goals of another class of the same investment fund.

e. The owners of a class of units shall not have the rights that will prejudice the rights of the owners of another class of units.

Text read on 2026-09-14 · a8c4abbbcc4f

Paragraphs

Each paragraph has a page of its own, so a citation of one paragraph names it exactly.

Paragraph	Opens with	History	Open
85(a)	a. The subscribed units shall be owned by the potential unitholder when the subscription request is executed …	—	Open
85(b)	b. The unitholder shall be entitled to exercise all rights in relation to the units (including, but not limit…	—	Open
85(c)	c. Other than losing his\her investment in the fund or part of it, the unitholder shall not be liable for the…	—	Open
85(d)	d. The private fund may issue more than one class of units, and all unitholders from the same class must have…	—	Open
85(e)	e. The owners of a class of units shall not have the rights that will prejudice the rights of the owners of a…	—	Open

History

Each time the regulation watch read the source and found these words changed, the earlier text was kept. Removed words are struck through, added words underlined.

No amendment has been seen since the platform first read these words on 2026-09-14.

Cited on the platform

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Source

The text is the Authority's, reproduced with attribution. The link opens the published document.

Published at: CMA — Investment Funds Regulations (English)Edition 11/2025
Last read: 2026-09-14first read 2026-09-14

ComAgents — the regulator-facing accountability layer for CMA-regulated firms. The text of each article is the Authority's, reproduced with attribution and a link to the source.