MENA Asset Management Survey 2012 - National Bank of Abu Dhabi

Oman / Saudi Arabia
Exchange Traded Funds
Questions Oman Saudi Arabia
• Draft prospectus Terms and conditions
Subscription/redemption forms
Any contracts entered into by the
fund manager
Audit report (if any) and, if more
recent, the latest unaudited report
Promoter/Capital Requirements
Information
Is promoter approval required? Yes Yes
Is there a regulatory obligation on a
fund promoter to make good any
losses suffered by fund?
Capital Markets Law & Executive
Regulations (Chapter 10, Articles 277 &
278):
Article (277): The management of the fund
shall recommend to the extraordinary
general meeting to dissolve and liquidate
the fund for any reason including:
1. Expiration of its term.
2. Accomplishment of the objective
for which the fund was established
pursuant to the articles of association and
the prospectus.
3. Reduction of the net asset value
(NAV) of the fund to less than RO 500,000
4. The fund stops carrying out its
business without legitimate reason.
5. Reduction in the net asset value
(NAV) to the extent that expenses incurred
by the investors are unreasonably high.
6. On recommendation by the
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