Section 100

The two meetings referred to in sub-regulation (1) must be held in

Brunei Darussalam and the periodic reports required under these Regulations must be presented at those meetings.

The operator must hold an annual meeting of unit holders of every collective investment scheme it operates, in every 12-month period from the date of registration or, in the case of a private collective investment scheme, the date of issue of the initial units, and the annual report required under these

Regulations must be presented at that meeting.

If the collective investment scheme is an investment trust, the trustee or the operator may convene a meeting of unit holders at any time but the responsibility to make ~ure the meetings are convened in accordance with these

Regulations rests with the operator failing which, with the trustee.

The operator of the collective investment scheme must, on receipt of a request in writing of the unit holders that complies with sub-regulation (6), immediately call a meeting of the unit holders.

The request referred to in sub-regulation (5) must be signed by the unit holders who, at that time, are registered as the unit holders of units representing not less than one-tenth in value of all of the units in the collective investment scheme.

A meeting of unit holders of a collective investment scheme duly convened and held in accordance with these Regulations is competent, by means of a special resolution, to require, authorise or approve any act, matter or document in respect of which any such resolution is required. Such a resolution has no other powers or effect.

Where no special resolution is specifically required or permitted by the

Order or these Regulations, any resolution of unit holders required under these

Regulations is passed by a simple majority of the votes validly cast for and against the resolution at a general meeting of unit holders.

Unit holders' meeting procedures for private collective investment scheme.