Article 14: Books and Records Keeping

Article 14: Books and Records Keeping

a) The fund manager must maintain the books and records of all investment funds which the fund manager manages.

b) The fund manager must maintain, at all times, records of all units issued and cancelled, and must maintain at all times an up to date record of the balance of outstanding units for each real estate fund under its management.

c) Without prejudice to paragraph (b) of this Article, the fund manager must retain all books and records in accordance with these Regulations for a period of ten years, unless the Authority determines otherwise. The fund manager must retain copies of all books and records required pursuant to this Article for a period more than ten years in the event such books and records relate to any litigation or claim (including any litigation pending or threatened) or any on-going investigations, the fund manager must retain such books and records until the closure of that litigation, claim or on-going investigation.