IN EXERCISE of the powers contained in Section 128 and 220 of the Securities Act 2016, the following Rules are made:
These Rules can be cited as the Securities (Collective Investment Scheme) (Key Facts Statement) Rules 2018.
These Rules shall apply to all Collective Investment Schemes as defined in the Act.
In the rules, unless the context otherwise requires:
“Collective Investment Scheme[s]” (CIS) means a collective investment scheme or schemes defined in Section 2 of the Act;
“Commission” means the Securities and Exchange Commission of Zambia whose existence is continued under the Act;
“Constitutive documents” means the principal documents governing the formation of a CIS, and includes the trust deed in the case of a unit trust and the articles of association of an investment company and all other material agreements;
“Custodian” has the same meaning as in Section 2 of the Act;
“Dealer” means, in relation to a CIS, a dealer as defined in Section 2 of the Act that buys and sell securities, bonds, derivatives, financial instruments or other assets for the CIS or engages in other activities as a dealer for the CIS;
“Delivery” means providing a document or other item relating to a Collective Investment Scheme at the office of its manager, dealer or investment advisor of the Scheme; by postal mail; by e-mail; or by facsimile transmission;