Prospectus Of Clerical Medical Open Ended Investment Company ...

day will be the value calculated on the previous business day. The current range of
transaction charges is between £5 and £150 per transaction.
In addition to the remuneration referred to above, the Depositary is entitled to receive
reimbursement for expenses properly incurred by it in discharge of its duties or exercising
any powers conferred upon it in relation to the Company and each Fund. Such expenses
include, but are not restricted to:
(i)
the charges and expenses payable to TNTC to whom the Depositary has delegated
the function of custody of the scheme property, such charges being the subject of
agreement between the Depositary, the Company and TNTC from time to time;
(ii)
all charges imposed by, and any expenses of, any agents appointed by the
Depositary to assist in the discharge of its duties;
(iii)
all charges and expenses incurred in connection with the collection and distribution of
income;
(iv)
all charges and expenses incurred in relation to the preparation of the Depositary's
annual report to shareholders;
(v)
all charges and expenses incurred in relation to stocklending or other transactions;
(vi) fees and expenses payable to any professional advisors advising or assisting the
Depositary.
Expenses not directly attributable to a particular Fund will be allocated between Funds. In
each such case such expenses and disbursements will also be payable if incurred by any
person (including the ACD or an associate or nominee of the Depositary or of the ACD) who
has had the relevant duty delegated to it pursuant to the COLL Sourcebook by the
Depositary.
The Depositary's periodic charge, the remuneration of the custodian and the expenses to be
reimbursed to the Depositary are payable out of the capital or income property of the
Company but are currently met by the ACD. The ACD may charge the Depositary's periodic
charge and the expenses to be reimbursed to the Depositary against the relevant Fund or
share class, as appropriate.
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