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CIU-1.12.7

CBB approval in response to a request to wind-up a retail CIU will normally be given in the following circumstances:

(a) The purpose of the CIU cannot be accomplished;
(b) The constitutional documents of the CIU provide for a termination;
(c) The NAV of the CIU has fallen below US$ 5 million (or some other threshold agreed by CBB); or
(d) A resolution of a duly convened meeting of the CIU participants has been passed to wind-up the CIU.