S.L. 123.51 чл. 12Declarations to the Commissioner.

(1) Every Malta based scheme that holds a collective investment scheme licence issued before the 1st March 2001 shall make a declaration to the Commissioner stating if the value of the assets situated in Malta allocated to each of its funds on that date is at least eighty five per cent of the value of the total assets so allocated.

(2) When a collective investment scheme licence is issued on or after the 1st March 2001 to a fund in a Malta based scheme that scheme shall make a declaration to the Commissioner stating if the value of the assets situated in Malta that will be allocated to that fund for the purpose of its operations is expected to be at least equal to eighty-five per cent of the value of the total assets that will be so allocated.

(3) When the average daily value of the assets situated in Malta allocated to a prescribed fund of a collective investment scheme has been, throughout any period of thirty consecutive days, less than eighty-five per cent of the average daily value of the total assets so allocated that collective investment scheme shall make a declaration to that effect to the Commissioner.

(4) When the average daily value of the assets situated in Malta allocated to a non-prescribed fund of a Malta based scheme has been, throughout any period of thirty consecutive days, at least eighty-five per cent of the average daily value of the total assets so allocated that collective investment scheme shall make a declaration to that effect to the Commissioner.

(5) Any declaration required in accordance with the foregoing provisions of this regulation shall be given without delay and without the need of any request being made therefor by the Commissioner.

(6) Every collective investment scheme shall make such other declarations and give such other details as the Commissioner may reasonably require for any of the purposes of these regulations within such time as the Commissioner may specify.