Cap. 590 Art. 25Changes of information.

(1) The licence holder shall provide the competent authority with particulars in writing of any changes in the information provided under this Act as soon as such licence holder becomes aware of such changes and shall notify the competent authority, on a continuous basis, of any changes or circumstances which give rise to the existence of close links within the meaning in article 17(e).

(2) Notwithstanding the generality of sub-article (1), any substitutions or amendments which refer to upgrades, maintenance, innovative evolution or mere replacement of operating systems shall be notified to the competent authority where they have, or have the potential to have, a material impact on investors or they are not in any manner in accordance with any provision of this Act:

Provided that the competent authority may issue rules in terms of article 15(3)(b) in order to prescribe mandatory notification in general or provide guidelines in particular cases.