Regulation 5 Amendment of regulation 6

For paragraph (2) of regulation 6 (general investment rules)^f1 substitute—

“(2)

All other transactions by way of sale or otherwise in an investment under account, and all transactions by way of trade or otherwise by an account manager of an investment in fractional interests—

(a)

shall be made at the price for which those investments might reasonably be expected to be sold or otherwise transacted, as the case may be, in the open market, and

(b)

in the case of transactions in fractional interests, the price shall be proportionate to the size of the fraction relative to the whole share.”.