Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Board NoticesDetermination on the requirements for hedge fundsPart 5 : Miscellaneous30. Transitional arrangements |
| (1) | A manager of a hedge fund in existence at the date of commencement of this Notice must comply with the provisions of this Notice within 12 months after registration as a manager, subject to any additional conditions imposed by the Registrar, and any other manager must comply fully with the provisions of this Notice from date of registration. |
| (2) | Where a manager of a hedge fund in existence at the date of commencement of this Notice wishes to apply for registration of that fund as a QI fund, the current investors in the hedge fund are deemed to be qualified investors, and to comply with the requirements for a qualified investor set out in this Notice; provided that any investor subscribing to the fund after the commencement date must be fully compliant with the requirement for qualified investors. |