Section 214

In this section, "scheme particulars" means particulars in such form, containing such information about the scheme and complying with such requirements, as are specified in the scheme particulars regulations.

The scheme particulars regulations may require the operator of a licensed collective investment scheme to submit, and to publish or make available, revised or further scheme particulars if there is a significant change affecting any matter -

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{a) which is contained in scheme particulars previously published or made available; and

{b)

whose inclusion in those scheme particulars was required by the regulations.

The scheme particulars regulations may require the operator of a licensed collective investment scheme to submit, and to publish or make available, revised or further scheme particulars if-

{a)

a significant new matter arises; and

{b)

the inclusion of information in respect of that matter would have been required in previous scheme particulars if it had arisen when those scheme particulars were prepared.

The scheme particulars regulations may provide for the payment, by the person or persons who in accordance with the regulations are treated as responsible for any scheme particulars, of compensation to any qualifying person who has suffered loss as a result of -

{a)

any untrue or misleading statement in the scheme particulars; or

{b)

the omission of any matter required by the regulations to be included.

In this section, "qualifying person" means a person who-

{a)

has become or agreed to become a participant in the collective investment scheme; or

{b) although not being a participant, has a beneficial interest in units in the collective investment scheme.

Disqualification of auditor.