Clause 287

the laws and practices of the jurisdictions under which the scheme is constituted and regulated affords to investors in Singapore protection at least equivalent to that provided to them by or under this Division in the case of comparable authorised schemes;

in the case of a scheme which is constituted as a corporation, the corporation is a foreign company registered under Part XI, Division 2 of the Companies Act (Cap. 50);

there is a manager for the scheme which satisfies the requirements in subsection (3);

there is a representative for the scheme who is an individual resident in Singapore for the purposes set out in subsection (13);

the Authority has been furnished with information regarding the situation of the registered office of the foreign company or company referred to in paragraph (b) or subsection (3)(c), as may be applicable, the name and contact particulars of the representative referred to in paragraph (d) and such other information as the Authority may prescribe; and

the scheme, the manager for the scheme and the trustee for the scheme, where applicable, comply with this Act and the Code on Collective Investment Schemes.

licensed or regulated in the jurisdiction of its principal place of business;

a fit and proper person, in the opinion of the Authority, and in considering if a person satisfies this requirement, the Authority may take into account any matter relating to —

any person who is or will be employed by or associated with the manager;

any director of the manager;

any person exercising influence over the manager;

any related corporation of the manager;

any director of such corporation; or

any person exercising influence over such corporation; and

in the case of a scheme which is not constituted as a corporation —

a foreign company which is registered under Part XI, Division 2 of the Companies Act (Cap. 50);

the holder of a capital markets services licence for fund management or a person exempted under section 99(1)(a), (b), (c) or (d) in respect of fund management; or

a public company which does not carry on business in fund management or is specified in the Third Schedule or is exempted under section 99(1)(e), (f), (g) or (h) in respect of fund management.

the responsible person is in the course of being wound up or otherwise dissolved whether in Singapore or elsewhere;

execution against the responsible person in respect of a judgment debt has been returned unsatisfied in whole or in part;

a receiver, a receiver and manager, a judicial manager or an equivalent person has been appointed, whether in Singapore or elsewhere, in relation to or in respect of any property of the responsible person;

the responsible person has entered into a compromise or scheme of arrangement with its creditors, being a compromise or scheme of arrangement that is still in operation.

facilitate —

the issuing and redeeming of units in the collective investment scheme;

the publishing of sale and purchase prices of units in the collective investment scheme;

the sending of reports of the scheme to participants;

the furnishing of such books relating to the sale and redemption of units as the Authority may require; and

the inspection of the instruments constituting the scheme;

either maintain for inspection in Singapore a subsidiary register of participants who subscribed for or purchased their units in Singapore, or maintain in Singapore any facility that enables the inspection or extraction of the equivalent information;

within 14 days after any change in the particulars referred to in subsection (2)(e), give notice in writing of such change to the Authority;

furnish such information or record regarding the scheme as the Authority may, at any time, require for the proper administration of this Act; and

such other functions as the Authority may prescribe.