Section 190 Investments and Securities Act

Section 190 of the Investments and Securities Act 2025 is about Investment company. It is under Part XIII (Collective Investments Schemes) of the Act. It provides as follows:

(1) An open-ended investment company shall be registered by the Commission if —
(a) it is a body incorporated in accordance with the Companies and Allied Matters Act;
(b) it has capital and reserve as prescribed by the Commission;
(c) its article of association provide that it may acquire its own shares; and
(d) it satisfies all other conditions which may be prescribed by the Commission.

(2) Upon registration, the assets and investments of an open-ended investment company shall be in the custody of a registered custodian.