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  • Issue, Purchase and Redemption

    • CIU-1.3.4

      Holdings may not be created or issued unless the equivalent of the net issue price is paid into the assets of the Bahrain domiciled retail CIU within the usual time limits. This shall not preclude the distribution of bonus holdings.

    • CIU-1.3.5

      CIU participants shall, in accordance with the CIU documents, either be:

      (a) Issued with registered certificates evidencing title to holdings, in a form and substance satisfactory to the CBB; or
      (b) Provided with written confirmation of entry in a register for such holdings which shall be kept current and up-to-date at all times and shall contain full details of the names and addresses of the CIU participants, the number of holdings held by them, and the date of acquisition of such holdings.

    • CIU-1.3.6

      Holdings in a CIU (except for those in closed-end funds), must be redeemed, repurchased, reimbursed or repaid (as may be appropriate) at the request of the CIU participants and in accordance with the Bahrain domiciled retail CIU's documents.

    • CIU-1.3.7

      Holdings may only be created, issued or sold, and redeemed, repurchased, reimbursed or repaid (as may be appropriate), in accordance with the prospectus constituting the Bahrain domiciled retail CIU and at a price arrived at by dividing the net asset value of the CIU by the number of holdings outstanding, after taking into account any charges as agreed in advance with the CBB.

    • CIU-1.3.8

      The prospectus constituting the Bahrain domiciled retail CIU must clearly state the frequency and basis for calculation of the issue price, repurchase price and other appropriate prices of the holdings in the CIU.