FUNDS 13.6.2

Past version: effective from 21/10/2015 - 20/10/2015
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The Fund Manager or in the case of an Investment Trust, the Trustee, as the successor in title to the property transferred, may pay out of the Fund Property any liability arising after the transfer which, had it arisen before the transfer, could properly have been paid out of the property transferred, but only if:

(a) there is nothing in the Constitution of the Fund expressly forbidding the payment; and either
(b) the Fund Manager or the Trustee, as the case may be, is of the opinion that proper provision was made for meeting such liabilities as were known or could reasonably have been anticipated at the time of the transfer; or
(c) Unitholders representing a majority of the issued and outstanding Units of the Fund have passed a resolution approving such payment from Fund Property at a meeting of Unitholders called by the Fund Manager for such purpose.