Remuneration compliance: arm's-length lower pay accepted as transitional relief where prescribed minimum was missed. An eligible investment fund must pay an eligible fund manager remuneration not less than a prescribed minimum; a proviso allows seeking Board approval if remuneration is lower. The Board granted transitional relief for prior years permitting arm's-length lower remuneration to be treated as compliance, while requiring future remuneration to adhere to the prescribed sub-rule and any applications for lower remuneration to follow the Board's stated procedure.
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.
Remuneration compliance: arm's-length lower pay accepted as transitional relief where prescribed minimum was missed.
An eligible investment fund must pay an eligible fund manager remuneration not less than a prescribed minimum; a proviso allows seeking Board approval if remuneration is lower. The Board granted transitional relief for prior years permitting arm's-length lower remuneration to be treated as compliance, while requiring future remuneration to adhere to the prescribed sub-rule and any applications for lower remuneration to follow the Board's stated procedure.
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