Singapore legislation

Section 222

of Securities and Futures Act 2001

Section 222

Exception for redemption of units in collective investment scheme

Sections 218(2) and 219(2) do not apply in respect of the redemption of units in a collective investment scheme by a trustee or manager under a trust deed relating to that collective investment scheme in accordance with a buy‑back covenant contained or deemed to be contained in the trust deed at a price that is required by the trust deed to be calculated, so far as is reasonably practicable, by reference to the underlying value of the assets less —

(a)

any liabilities of that collective investment scheme to which the units relates; and

(b)

any reasonable charge for purchasing the units.

Read in full context — Securities and Futures Act 2001 →