Section 191

(1)

An operator of a private property collective investment scheme must ensure that the following information is disclosed in the collective investment scheme's prospectus -

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(aJ the nature of the commitment that the unit holders enter into;

(b/ t4e risks involved in this type of collective investment scheme;

(cJ a prominent risk warning which makes reference to circumstances in property markets which can cause difficulties in meeting redemptions;

(d/

the details of the property collective investment scheme's appointed independent valuer;

(eJ the redemption procedures in a prominent position in the prospectus;

{f/

the dividend or income distribution policy;

(g/

the insurance arrangement for the collective investment scheme property;

(h/ a statement with respect to any material policy regarding real property activities;

{i/

the details of transactions or agreements entered into with affected persons;

{}/

the full particulars of the nature and extent of the interest, if any, of affected persons, in the property owned or proposed to be acquired by the collective investment scheme;

{k/ the details of significant unit holders and the number of units held and deemed to be held by each of them;

(lj the details of principal taxes levied on the collective investment scheme's income and capital, including tax, if any, deducted on distribution to the unit holders;