S.L. 386.2 чл. 7Multi fund companies.

(1) A SICAV may be constituted as a multi fund company, where in terms of its memorandum of association, its share capital is, or is capable of being divided into different classes of shares where one class or a group of classes of shares constitute a distinct sub-fund of the company: Provided that the initial share capital may or may not be organized in one or more sub-funds in terms of this regulation.

(2) A multi fund company may, with the written approval of the competent authority, create and issue a new class or classes of shares which may constitute a new sub-fund or be comprised in an existing sub-fund or sub-funds of the company.

(3) A class or classes of shares constituting a sub-fund in a multi fund company may be denominated in a different currency provided that a class of shares may be denominated only in one currency.

(4) For the purposes of this regulation, a "sub-fund" means the distinct class or classes of shares constituting that sub-fund in a multi fund company to which are allocated assets and liabilities distinct from other assets and liabilities allocated to other sub-funds in the same company.

(5) A multi-fund company opting for the segregation of assets and liabilities in terms of regulation 9 may, in specific circumstances as shall be prescribed by the competent authority in the Investment Services Rules and subject to specific and appropriate disclosure in the constitutional documents and the offering memorandum or prospectus of the said Scheme, on behalf of any of its sub-funds and whether by subscription or transfer, acquire for consideration any shares of any of its other sub-funds, and the provisions of article 84(6) of the Act shall not apply.

(6) Multi-fund companies performing the activities prescribed in sub-regulation (5) prior to the coming into force thereof, shall take all necessary measures to comply with the requirements prescribed therein within six months from the date of publication the coming into force thereof.

(7) For the better carrying out of sub-regulation (5), the competent authority may issue Investment Services Rules in terms of article 6(2)(b) of the Investment Services Act.