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  • BDE-2.1 BDE-2.1 General Requirements

    • BDE-2.1.1

      Every Bahrain domiciled expert CIU authorised under Chapter ARR-3 must publish a prospectus containing, as a minimum, the information set out in Supplementary Information document ARR(ii), in Part B of Volume 7.

      April 2012

    • BDE-2.1.2

      The board of the CIU, or trustees, as appropriate, must ensure that the information contained in the prospectus:

      (a) Is complete and transparent;
      (b) Is not false, misleading, or unfairly prejudicial to the interests of the CIU participants generally or to the participants of other classes of instruments issued by the CIU; and
      (c) Does not contain any provision that conflicts with any Rule in Volume 7, or other legal or regulatory requirements that apply to the CIU or other relevant persons connected to the CIU.
      April 2012

    • BDE-2.1.3

      The documents constituting the Bahrain domiciled expert CIU must form an integral part of the prospectus and must be annexed to it. Alternatively, the prospectus must specify where the documents constituting the Bahrain domiciled expert CIU may be obtained.

      April 2012

    • BDE-2.1.4

      The board of the CIU must keep the prospectus up-to-date, such that the information it contains is materially current.

      April 2012

    • BDE-2.1.5

      Once the CIU is authorised, prior approval must be obtained from the CBB for any subsequent material changes to the prospectus. An updated copy of the prospectus must be made available to CBB within 30 calendar days of the revision being agreed, and CIU participants must be notified of the changes at least 30 calendar days before they take effect, given that a window for redemption is made available to CIU participants within this timeframe.

      April 2012

    • BDE-2.1.6

      For the purposes of the Paragraph BDE-2.1.5, material changes include, but are not limited to:

      (a) Changes in the relevant persons;
      (b) A change in legal structure;
      (c) A change to the investment strategy; or
      (d) A change in fees.
      April 2012

    • BDE-2.1.7

      The CIU must provide a copy of its most recent prospectus, free of charge, to any existing and potential CIU participants.

      April 2012

    • BDE-2.1.8

      The CIU must, upon request, provide explanations and such other information supplementary to the prospectus as may reasonably be required by any existing and potential CIU participants.

      April 2012