Section 95
of Securities Markets Regulations, 2015
Section 95
(1)
An operator of a collective investment scheme must fa}
ensure that at each valuation point, there are at least as many units in issue of any class as there are units registered to unit holders of that class;
and 242
{bj not do 1 or omit anything that would, or might confer on itself a benefit or advantage at the expense of unit holders or prospective unit holders.
(2)
Where an operator has not complied with sub-regulation (1) or there is any other valuation error, it must rectify the error as soon as possible and must reimburse the collective investment scheme any costs it may have incurred in rectifying the position, subject to any reasonable minimum level for such reimbursement as set out in the prospectus.
trust
(3)
If the collective investment scheme is structured as an investment
{a} the operator must notify the trustee of the matters specified in sub-regulation (2);
(b)
the trustee must also take reasonable steps to ensure that the operator complies with the matters specified in sub-regulations (1) and (2};
and
{cj provide any other notification required under these Regulations.
Determination of single price.