Perpetual Funds (Registration) Act, 1933

Registration of alterations in rules.

7.—(1) Whenever an alteration is made in the rules of a registered perpetual fund, the trustees of such fund shall, within the prescribed time after the making of such alteration, apply to the registrar in the prescribed form and manner for the registration of such alteration in the register.

(2) Whenever the trustees of a registered perpetual fund apply under this section for the registration of an alteration in the rules of such fund, they shall, at the time of making such application, furnish to the registrar the prescribed particulars and the prescribed documents.

(3) On receipt of an application under this section for the registration of an alteration in the rules of a registered perpetual fund (whether such application is or is not made within the prescribed time after the making of such alteration), the registrar—

(a) shall, if he is satisfied that such rules as so altered comply with the requirements set out in the Schedule to this Act, register such alteration in the register, or

(b) shall, if he is not so satisfied, refuse such application.

(4) No alteration in the rules of a registered perpetual fund shall be valid or have any force or effect unless or until such alteration is registered in the register, and every such alteration which is so registered shall have effect as on and from the date of such registration.

(5) Whenever the registrar registers in pursuance of this section an alteration in the rules of a registered perpetual fund, he shall issue to the trustees of such fund a certificate stating the fact and date of such alteration.