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  • De-registration

    • CIU-4.1.13

      The CBB licensee responsible for distributing an overseas domiciled CIU must must seek prior written approval from the CBB if they wish to de-register the fund. They must provide an explanation for wishing to de-register, and the options available to participants in the event of de-registration (such options to include, if possible, a right to switch without charge into another CIU).

    • CIU-4.1.14

      The CBB will normally respond to such requests within 15 calendar days of the request being made.

    • CIU-4.1.15

      Once approval has been granted under Rule CIU-4.1.13, the CBB licensee concerned must give at least one month's written notice to participants. The notice must provide an explanation and explain the participants' options (as specified in Rule CIU-4.1.13). A copy of this notice must be provided to the CBB at the time it is issued to participants.

    • CIU-4.1.16

      Once the CIU's participants have been repaid, or transferred to another CIU, the CBB licensee must notify the CBB of the fact and request that the CIU concerned be taken off the CBB register of overseas domiciled CIUs.

    • CIU-4.1.17

      In all cases, the CBB licensee should keep the CBB informed about their timetable and progress made in either transferring CIU participants into another CIU, or returning moneys due to them.

    • CIU-4.1.18

      The CBB may cancel the registration of an overseas domiciled CIU if in its opinion:

      (a) Any of the applicable requirements contained in Module CIU are not met;
      (b) False or misleading information has been provided to the CBB, or significant information which should have been provided to the CBB has not been so provided; or
      (c) The CBB believes it necessary in order to safeguard the interests of potential investors or the CIU's participants.

    • CIU-4.1.19

      Where the CBB proposes to cancel a CIU registration pursuant to Paragraph CIU-4.1.18, it shall give the CIU operator or its appointed representative a written notice of its intention to do so and the reasons for such action, together with a description of the process for appealing such a decision.