Schedule 4
(Regulation 36(2))
INFORMATION TO BE DISCLOSED IN COLLECTIVE INVESTMENT SCHEME PARTICULARS
(Note: This list is not intended to be exhaustive. The scheme is obliged to disclose all information that may be necessary for participants to make an informed judgement.)
Constitution of the collective investment scheme
-
1. Name, registered address and place and date of creation of the scheme, with an indication of its duration if limited.
Investment objectives and restrictions
-
2. Details of investment objectives and policy, including summary of the investment and borrowing restrictions.
If the nature of the investment policy so dictates, a warning that investment in the scheme is subject to abnormal risks, and a description of the risks involved.
Operators and principals
-
3. The names and registered addresses of the following parties (where applicable)—
-
(a) the management company and its board of directors;
-
(b) the custodian;
-
(c) the investment adviser;
-
(d) the auditors;
-
(e) the registrar; and
-
(f) the lawyers to the scheme.
Characteristics of units
-
4. Minimum investment (if any).
-
5. A description of the different types of units, including their currency of denomination.
-
6. Form of certification.
-
7. Frequency of valuation and dealing, including dealing days.
Application and redemption procedures
The name(s) of the daily newspaper(s) in which prices will be published.
Procedure for subscribing/redeeming units, and in the case of umbrella collective investment schemes, conversion of units.
The maximum interval between the request for redemption and the dispatch of the redemption proceeds.
A summary of the circumstances in which dealing in units may be deferred or suspended.
It must be stated that no money should be paid to any intermediary in Saint Lucia who is not duly licensed by the Commission.
Distribution policy
The distribution policy and the approximate dates on which dividends (if any) will be paid (if applicable).
Fees and charges
-
(1) The level of all fees and charges payable by a participant, including all charges levied on subscription and redemption, and conversion (in the case of umbrella collective investment schemes).
-
(2) In addition the level of all fees and charges payable by the collective investment scheme, including management fees, custodian fees and start-up expenses.
-
15. Disclosure of entitlement to brokerage or other transaction benefits of any connected persons to the scheme.
Taxation
-
16. Details of Saint Lucia and principal taxes levied on the scheme's income and capital, including tax, if any, deducted on distribution to participants.
Reports and accounts
-
17. The date of the scheme's financial year.
-
18. Particulars of what reports will be sent to registered participants and when. If there are bearer units in issue, information must be given on where in Saint Lucia reports can be obtained.
Warnings
-
19. The following statement and warning must be prominently displayed in the scheme particulars—
-
(a) “Important - if you are in any doubt about the contents of this offering document, you should consult your stockbroker, bank manager, lawyer, accountant or other financial adviser”;
-
(b) a warning that the price of units and the income from them (where income is distributed) may go down as well as up.
General information
-
20. A list of formation documents and an address in Saint Lucia where they can be inspected free of charge or purchased.
-
21. The date of publication of the scheme particulars.
-
22. A statement that the management company accepts responsibility for the information contained in the scheme particulars as being accurate as at the date of publication.
Termination of collective investment scheme
-
23. A summary of the circumstances (of any) in which the scheme can be terminated.