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Status: You are viewing the version of the handbook as on 2005-06-30.

CIS 12.2 Futures and options schemes and geared futures and options schemes

Special rules for sales and redemptions

CIS 12.2.1R
  1. (1)

    In the case of a futures and options scheme and a geared futures and options scheme, CIS 4.4.3 R (Authorised fund manager's obligation to sell) and CIS 4.4.4 R (Authorised fund manager's obligation to redeem) do not apply:

    1. (a)

      in the 15 minutes immediately before a regular valuation point, or, if the regular valuation points are less than one hour apart, in the last quarter of the interval between them; and

    2. (b)

      if the authorised fund manager has stated in the prospectus that it is not obliged to sell or redeem in the 15 minutes (or lesser period) immediately before a regular valuation point.

  2. (2)

    In the case of a futures and options scheme and a geared futures and options scheme that is a dual-priced AUT, CIS 15.4.3 R (Manager's obligation to sell) and CIS 15.4.7 R (Manager's obligation to redeem) are disapplied under the same conditions as in (1)(a) and (b).