PC NMS October 2012 clean version CSSF 3010 pour VISA FINAL

d. whenever exchange or capital movement restrictions prevent the execution of transactions on behalf of
the Fund or in case purchase and sale transactions involving the Fund's assets cannot be effected at
normal exchange rates;
e. as soon as a General meeting is called during which the dissolution of the Fund shall be put forward.
Under exceptional circumstances that may adversely affect the interest of Shareholders or in case of
applications for redemption exceeding 10% of a Sub-Fund's net assets, the Board of Directors of the Fund shall
reserve the right to determine the share price only after having carried out, as soon as possible, the necessary
sales of transferable securities on behalf of the Sub-Fund. In such case, outstanding applications for
subscription, redemption and conversion shall be treated on the basis of the net asset value thus calculated.
Subscribers and Shareholders offering Shares for redemption or conversion shall be notified of the suspension
of the net asset value calculation. Pending applications for subscription, redemption and conversion may be
withdrawn in writing insofar as notification thereon be received by the Fund or by any other entity duly
appointed by and acting in the name of the Fund before the end of suspension.
Pending subscriptions, redemptions and conversions shall be taken into consideration on the first Valuation
day immediately following the end of suspension.
18. ISSUE OF SHARES, SUBSCRIPTION AND PAYMENT PROCEDURE
The Board of Directors is authorised to issue Shares in each class of every Sub-Fund at any time and without
limitation.
Pursuant to the Luxembourg law of 19 February 1973, as amended, to combat drug addiction, the law of 5
April 1993, as amended, relating to the financial sector, the law of 12 November 2004 relating to money
laundering and to the relevant circular of the Luxembourg supervisory authority, obligations have been
imposed on professionals of the financial sector to prevent the use of UCITS funds such as the Fund for money-
laundering purposes. Within this context a procedure for the identification of investors has been imposed.
Issue requests must therefore include a certified copy (by one of the following authorities: consulate, embassy,
police officer or public notary) of (I) the applicant’s identity documents in the case of individuals or (ii) the
articles of incorporation as well as an extract of the commerce register in the case of corporate entities, and
this in the following cases:
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