Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)

Board Notices

Rules for the administration of a collective investment scheme in participation bonds

26. Duty of manager upon termination of scheme
Purchase cart Previous page Return to chapter overview Next page

 

Upon the termination of the scheme, the manager must:—

(a)subject to their respective terms and conditions, call in all participation bonds included in such scheme and pay out participants to the extent of their participatory interest provided that, with the consent of the registrar and all participants, the manager may cause the nominee company to cede any such bond, or all such bonds, to the participants to the extent of their respective rights to and interest in such bond or all such bonds; and
(b)withdraw all deposits and pay out the money so withdrawn to the participants entitled thereto.