Winding up of mutual fund schemes requires trustees' notice and unit-holder approval; Board may direct closure. Winding up of a close-ended scheme occurs on expiry of its duration unless rolled over; a scheme must also be wound up where trustees consider an event requires it, where unit holders pass a resolution, or where the Board directs winding up. Trustees must give notice within one day to the Board and publish in two newspapers; when winding up is proposed by trustees they must obtain participating unit-holder consent by simple majority on a one-vote-per-unit basis and publish voting results, and if consent is not obtained the scheme reopens from the second business day after publication.