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Executive Bylaws - CMA

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Executive Bylaws

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  • February 17
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2-35-9 Of Module Thirteen: Collective Investment Schemes
Section: Chapter Two: Funds
  • Monday, 13 February 2017

    Holding the meeting of the Unit holders assembly shall be invalid unless it is attended by Unit holders constituting 50% of the Fund’s issued capital. If this quorum is not achieved, the assembly shall be called for another meeting of the same agenda to be held within a period not more than thirty days as of the date of the first meeting. The second meeting shall be valid whatever the percentage of the capital owned by attendants is. A new call for the second meeting may be not extended, if the date thereof is identified in the call for the first meeting. The resolutions shall be issued by the absolute majority represented in the meeting, excluding the resolutions related to amending the Fund’s Articles of Association and related to the rights acquired by Unit holders or in the event of liquidation at the request of the Fund Manager, as these resolutions shall be issued upon approval of the Unit holders owning 50% of the Fund’s issued capital.

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