Section 6 Retention for liabilities and final dividend of High Yield Fund

On or before the effective date the investment manager shall estimate:

and shall give notice in writing of that estimate to the Accountant General.

There shall be retained out of the assets of the High Yield Fund cash, and such other assets as the investment manager may nominate in writing, equivalent in value to the total amount of the relevant liabilities and the final HYF dividend estimated in accordance with sub-paragraph (1).

If the investment manager makes a nomination under sub-paragraph (2) he shall give a copy of it to the Accountant General.

The final HYF dividend and the relevant liabilities shall be satisfied out of the retained assets, unless the retained assets are insufficient to satisfy the final HYF dividend and all the relevant liabilities, in which case sub-paragraph (5) shall apply.

Any of the final HYF dividend and any of the relevant liabilities remaining to be satisfied after the retained assets have been exhausted shall be satisfied out of the assets of the Capital Fund.

When the final amount of the relevant liabilities is ascertained, unless the retained assets have been exhausted, the remaining retained assets shall be added to the Capital Fund and shall from then be treated as assets of the Capital Fund.