FUNDS 7.1.2

(1) A Foreign Fund Manager to whom this Chapter applies must:
(a) ensure that there is appointed to the Fund a Fund Administrator or a Trustee licensed by the Regulator or such other administrator or trustee as is otherwise acceptable to the Regulator (hereafter referred to as the "Appointed Fund Administrator" or "Appointed Trustee") before commencing the management of that Fund;
(b) ensure that there is appointed to the Fund an Eligible Custodian before commencing the management of that Fund; and
(c) either itself procure, or require the Appointed Fund Administrator or Appointed Trustee to (and for this purpose grant to that Person such powers as are necessary to), facilitate:
(i) if it is an open-ended Fund, the issue, resale and redemption of the Units of the Fund and the publication of the price at which such issue, resale or redemption will occur in accordance with these Rules and the Constitution;
(ii) the sending to Unitholders of the Fund all the reports required under these Rules and the Constitution;
(iii) access to the Constitution and most recent Prospectus of the Fund to Unitholders and prospective Unitholders; and
(iv) access to the books and records relating to the Fund as required by the Regulator and any person providing the oversight functions of the Fund.
(2) If the Fund is structured as an Investment Trust, the Foreign Fund Manager may appoint the Trustee as its Appointed Trustee for the purposes of (1).