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Section 4 Merger of High Yield Fund into Capital Fund

Original text. Later amendments are not shown.

(1)

On the effective date the events set out in the following sub-paragraphs shall take place.

(2)

Subject to paragraph 6(2) all the assets of the High Yield Fund shall be added to the Capital Fund and shall from then be treated as assets of the Capital Fund.

(3)

Subject to paragraph 5(3), all the units in the High Yield Fund shall be cancelled.

(4)

The number of units into which the Capital Fund is divided shall be increased by the number of the additional CF units.

(5)

For each unit in the High Yield Fund which was in existence immediately before the effective date, there shall instead be allotted to the Accountant General a number of units in the Capital Fund equal to the multiplier.