Section 112
of Securities Markets Regulations, 2015
Subsidiary LegislationIn forceProvision 112 of 199
Section 112
(b)
in the case of a collective investment scheme structured as an investment trust, the trustee or the operator, as the case may be.
!2)
Notwithstanding the requirement in sub-regulation (1), if an operator or a trustee discovers any non-compliance of any term of the delegation agreement or outsourcing agreement, the operator or the trustee, as the ca'se may be, must take immediate action to remedy the matter and to notify the Authority and where applicable, its board of directors or the trustee.
(3)
For the purposes of sub-regulation (2), the operator or the trustee must notify the Authority only where the non-compliance is materiaL