Section 76
of Securities Markets Regulations, 2015
Section 76
(1)
Subject to sub-regulation (2), where a regulated person offers a unit of a collective investment scheme for issue or sale to a client, or undertakes a transaction in respect of such a unit for or on behalf of a client, it must make available to that client a copy of the most recent prospectus at the time of the offer or before effecting the transaction.
(2)
The requirement to provide a copy of the prospectus does not apply to a regulated person where it is
(a)
undertaking an execution-only transaction;
(b)
undertaking a transaction solely for the purposes of a discretionary portfolio management agreement entered into with the .client; or
(c)
undertaking a transaction with the operator of a collective investment scheme for the purpose of redeeming a unit of that collective investment scheme.
(3)
A regulated person that makes an offer or undertakes a transaction as set out in sub-regulation (1) must keep and maintain at its place of business in
Brunei Darussalam copies of the relevant prospectus for inspection by clients and by the Authority during normal business hours.
Private collective investment scheme.