(1) A Fund Manager must produce the required annual report and interim report as follows:
(a) an annual report within six months after the end of each annual accounting period; and
(b) an interim report within three months after the end of each interim accounting period.
(2) For the purposes of (1), the first annual accounting period of a Fund begins:
(a) in the case of a Public Fund, on the date of registration by the Regulator; or
(b) in the case of an Exempt Fund or a Qualified Investor Fund, on the date of notification to the Regulator; and
ends on the date stipulated as the annual accounting period end date in the prospectus. Thereafter, annual accounting periods cover the period between each subsequent financial year end.
(3) Notwithstanding the requirement in (2), should a Fund’s first accounting period end within less than 6 months, the Fund Manager may notify the Regulator that it has chosen to extend the first accounting period to end on the subsequent accounting period end date, provided that the extended first accounting period is no longer than 18 months in duration.
(4) For the purposes of (1), an interim accounting period is the period covering:
(a) from the date that the first accounting period begins to the date 6 months prior to the end of the first accounting period; and
(b) 6 months after each annual accounting period end date.
(5) If a Fund intends to change its annual or interim accounting period, the Fund Manager must:
(a) obtain written confirmation from its auditor that the change of its annual accounting period would not result in any significant distortion of the financial position of the Fund; and
(b) obtain the Regulator's prior consent before implementing the change.
(6) For a Fund which is an Umbrella Fund, the Fund Manager must prepare reports for each Sub-Fund, but need not prepare reports for the Umbrella Fund as a whole, and the remainder of this Chapter 16 should be read accordingly.
(7) The Fund Manager must prepare the annual and interim reports of the Fund in accordance with Rule 16.4.2.
(8) The reports must:
(a) be available free of charge to Unitholders;
(b) be available in English,
(c) be sent to the Regulator; and
(d) if the Fund is a Public Fund, be available for inspection free of charge during ordinary office hours at a place specified.
|Amended on (3 February, 2020).|