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    <description>Subordinate units are locked in until reclassification into ordinary units and may be transferred or encumbered only to the sponsor, its associates or sponsor-group entities; the depository must not register transfers or encumbrances except to such permitted persons, the investment manager must disclose any inter-se transfer or encumbrance to the recognised stock exchange within one working day, and on change of sponsor the outgoing sponsor must transfer subordinate units it holds to another sponsor, its associates or sponsor-group entities.</description>
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