FUNDS 9.7 FUNDS 9.7 Obligation relating to making a Prospectus available
FUNDS 9.7.1 FUNDS 9.7.1(1) A Fund Manager of a Domestic Fund must make the Fund's most recent Prospectus available free of charge to any Unitholder and to any Person who is eligible to invest in the Fund when making an Offer to issue or sell a Unit of the Fund to such a Person, and, in any case, must not enter into a Transaction relating to the issue or sale of a Unit of the Fund with a Person unless that Transaction results from an Excluded Offer as defined in Rule 5.1, or is otherwise permitted by, these Rules.
Guidance1. Rule 5.1 contains the definitions of Excluded Offers, such as Execution-only Transactions and Transactions with Market Counterparties.2. A Fund Manager should note the requirements in Schedule 2 of FSMR. A Prospectus drawn up pursuant to Rule 9 should be made available to prospective Unitholders for as long as the Offer is open and once the Offer is closed, the Fund Manager's obligation to make the Prospectus available would cease.3. Rules 3.3.3 and 3.3.4 set out the conditions that must be satisfied for Exempt Funds and Qualified Investor Funds. In particular, these Rules require that Units in an Exempt Fund or a Qualified Investor Fund may only be Offered for issue or sale by means of a Private Placement with Professional Clients.
FUNDS 9.7.2(1) Where an Authorised Person Offers a Unit of a Domestic Fund to a Person it must make available to that Person a copy of the most recent Prospectus at the time of the Offer or before effecting the Transaction in relation to the Units, unless that Transaction results from an Excluded Offer as defined in Rule 5.1 of these Rules.
FUNDS 9.7.3 FUNDS 9.7.3(a) maintaining at its place of business in the Abu Dhabi Global Market copies of the relevant Prospectus for inspection by Clients and by the Regulator during normal business hours; or(b) being able to advise readily of a location in the Abu Dhabi Global Market where copies of the Prospectus are available.
Copies of the Prospectus may be stored electronically so long as Clients and the Regulator have ready and immediate access.