CmaBylaw
Executive Bylaws
2-37-7 Of Module Thirteen: Collective Investment Schemes
Section: Chapter Two: Funds
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Monday, 13 February 2017
The liquidator shall carry out all works required for the Fund’s liquidation and shall be entitled to: 1. Represent the Fund before the courts and third parties. 2. Provide Care of a Prudent Person to maintain the Fund’s Assets and rights. 3. Pay the Fund’s debts. 4. Sell the Fund’s Assets of real estate and movable assets in a public auction, tender, or any other method ensuring to have access to the highest price, unless the appointment resolution sets forth selling in a certain method. 5. Divide the Fund’s net Assets amongst the Unit holders. The liquidator may not proceed with new works unless they are necessary for completing previous works. In addition, the liquidator may not sell the Fund’s Assets in one batch; reconcile concerning the rights thereof; accept arbitration in the disputes related to liquidation works; or deal with parties of relevance without the approval of the Unit holders assembly.
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