Paragraph 6
On each accounting date the investment manager shall—
determine the total amount liable to distribution as income of the fund, and
express that amount in terms of a dividend payable in respect of each unit held at that date.
On the dividend date immediately following each accounting date, the investment manager shall pay to each unit holder, by reference to each account held to the credit of that holder, the dividend amount determined in accordance with this paragraph multiplied by the number of such units held in that account.
For the purposes of sub-paragraph (1), all the income of the fund is liable to distribution, except to the extent to which—
the investment manager has determined, under paragraph 1(e) of Schedule 1, that any fees or expenses are to be defrayed out of income; and
any payment which may be conveniently made out of income is required by or under any enactment, by any rule of law or by the order of a court.
The investment manager shall deem such amount as he considers appropriate of the first dividend payable after the purchase of a unit to have accrued in the buying price.