A manager of a Collective Investment Scheme shall be deemed as an Interested Person with regard to Shares constituting such scheme in accordance with Appendix 3 of this Module for disclosing the interest and changes occurring to it, unless the Scheme’s articles of association sets out that the manager is not permitted to exercise the voting rights on Shares constituting this scheme. In this case, the manager of the Collective Investment Scheme shall disclose the scheme’s interest where it represents 5% or more in such Shares without consolidating this interest with his other interests. Disclosure shall be made in accordance with Appendix 1 of this Module for disclosure of interests and Appendix 2 of this Module for disclosure of changes in interest.