Section 74

This Part applies to every person who carries on, or intends to carry on, in or from Brunei Darussalam the investment activities and services of

{a}

establishing, operating or winding up a collective investment scheme;

This Part applies to every person who is, or intends to

{a}

be an operator;

{b)

be a member of the board of directors;

In this Part, unless the context otherwise requires

"close relative" includes grandchildren;

"providing collective investment scheme administration" means providing one or more of the following services -

230

{a)

processing dealing instructions including subscriptions, redemptions, stock transfers and arranging settlements;

{b)

valuing of assets and performing net asset value calculations;

{c)

maintaining the share register and unit holder's registration details;

{d)

complying with anti-money laundering requirements;

{e)

undertaking transaction monitoring and reconciliation functions;

({}

performing administrative activities in relation to banking, cash management, treasury and foreign exchange;

{g)

producing financial statements, other than as the collective investment scheme's registered auditor; or

{h)

communicating with participants, the collective investment sche.me, the collective investment scheme operator, the brokers, the regulatory authorities and any other parties in relation to the administration of the collective investment scheme.