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Unit Trusts Control Amendment Bill (B 1-1998)

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To amend the Unit Trusts Control Act, 1981, so as to deregulate the quantum and method of calculation of charges levied by a unit trust scheme; to empower a management company to include in a unit portfolio, subject to prescribed conditions, units or any other form of participation in other unit portfolios of a unit trust scheme or other similar scheme; to empower the Minister to prescribe the kind of information that must be furnished annually by a management company to the registrar and holders of unit certificates; to empower a trustee to appoint a representative to perform specific functions when it is impracticable for the trustee to perform those functions; and to allow foreign collective investment schemes to promote their business in the Republic with the approval of and subject to the conditions determined by the registrar; and to provide for matters connected therewith.

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