Winding up: specified fund events and regulator direction trigger closure and require Board and investor notification. Regulation 23 requires winding up a trust-based venture capital scheme on expiry of the placement memorandum period, trustees' opinion that winding up is ... Summary
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Winding up: specified fund events and regulator direction trigger closure and require Board and investor notification.
Regulation 23 requires winding up a trust-based venture capital scheme on expiry of the placement memorandum period, trustees' opinion that winding up is in investors' interests, a specified investor resolution, or Board direction; corporate or body corporate funds must be wound up under their constituting statute. Trustees or the board must intimate the Board and investors of the circumstances leading to winding up.
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