TaxTMI 
TaxTMI 
Winding up of collective investment scheme
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....ve investment scheme] or on the accomplishment of the purpose of the 4[collective investment scheme]. (2) Notwithstanding anything contained in sub-regulation (1), a 5[collective investment scheme] may also be wound up- (a) on the happening of any event which, in the opinion of the trustee, requires the 6[collective investment scheme] to be wound up and the prior approval of the Board is obtaine....
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....nt scheme] with a resolution that the 14[collective investment scheme] be wound up and the approval of the Board is obtained. (3) Where a 15[collective investment scheme] is to be wound up under sub-regulation (1) or sub regulation (2), the trustee shall give notice disclosing the circumstances leading to the winding up of the 16[collective investment scheme] in a daily newspaper having nationwid....
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....port on the steps taken for realisation of assets of the 20[collective investment scheme], expenses for winding up and net assets available for distribution to the unit holders, and (b) a certificate from the auditors of the 21[collective investment scheme] to the effect that all the assets of the 22[collective investment scheme] are realised and the details of the distribution of the proceeds. ....