Clause 85

by deleting sub-paragraphs (i) to (vi) of subsection (3)(b) and substituting the following sub-paragraphs:“(i)any person who is or will be employed by or associated with the manager;

any person exercising influence over the manager; or

any person exercising influence over a related corporation of the manager; and”;

by deleting paragraphs (b) and (d) of subsection (5);

by deleting the words “, a judicial manager” in subsection (5)(c);

by deleting the semi-colon at the end of subsection (5)(c) and substituting a full-stop; and

by inserting, immediately after subsection (13), the following subsections:“(13A) In carrying out or procuring the carrying out of the functions referred to in subsection (13), the representative shall ensure that —

for the purposes of subsection (13)(a)(ii), the sale and purchase prices of units in the collective investment scheme are published in the language of the prospectus;

for the purposes of subsection (13)(a)(iii), the reports of the scheme sent to participants are prepared in the language of the prospectus, except in relation to any participant who has consented to being sent a report in a language other than the language of the prospectus;

for the purposes of subsection (13)(a)(v), if the instruments constituting the scheme are not in the language of the prospectus, an accurate translation of the instruments in the language of the prospectus is made available to a participant for inspection, unless the participant has consented to the making available to him for inspection of the instruments in a language other than the language of the prospectus; and

for the purposes of subsection (13)(b), if the subsidiary register of participants or equivalent information is not in the language of the prospectus, an accurate translation of the register or equivalent information in the language of the prospectus is made available to a participant for inspection or extraction, unless the participant has consented to the making available to him for inspection or extraction of the register or equivalent information in a language other than the language of the prospectus.(13B) In subsection (13A), “language of the prospectus” means the language of the prospectus accompanying or making the offer of units in the collective investment scheme to the public for subscription or purchase or the invitation to the public to subscribe for or purchase units in the collective investment scheme.(13C) Section 318A(2) shall not apply to the instruments constituting the scheme referred to in subsection (13)(a)(v) or to the subsidiary register of participants or equivalent information referred to in subsection (13)(b).”.