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  • Rights

    • CIU-1.3.1

      If a Bahrain domiciled retail CIU has different classes of holdings, the instrument constituting the CIU must clearly set out the different features of each class of holding, including their respective rights; the allocation of expenses and fees; and how the proportion of the value of the assets of the CIU and the proportion of income available for allocation attributable to each such class is to be calculated.

    • CIU-1.3.2

      For the purposes of this Module, the interest of the CIU participants in a Bahrain domiciled retail CIU (by whatever name these interests are called), are deemed to consist of holdings (including fractions of a holding), each holding representing one undivided share of the entitlement in the CIU's assets.

    • CIU-1.3.3

      The instrument constituting the CIU may provide for different classes of holdings to be issued in an authorised CIU and, in the case of umbrella CIUs, may provide that different classes of holdings may be issued for each sub-CIU.