Repurchase price calculation mandates periodic announcements, includes mandated unrealised appreciation portion, permits limited expense deductions, applies prevailing price. Unit Trusts and Mutual Funds must announce repurchase prices at specified intervals, increase announcement frequency when open repurchase commences, and repurchase units at the price prevailing on tender date. In calculating repurchase price funds must include a mandated portion of unrealised appreciation and may deduct sums for management, selling and realisation expenses subject to a cap measured against the plan's average Net Asset Value.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Unit Trusts and Mutual Funds must announce repurchase prices at specified intervals, increase announcement frequency when open repurchase commences, and repurchase units at the price prevailing on tender date. In calculating repurchase price funds must include a mandated portion of unrealised appreciation and may deduct sums for management, selling and realisation expenses subject to a cap measured against the plan's average Net Asset Value.
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