Section 150 Investments and Securities Act

Section 150 of the Investments and Securities Act 2025 is about Meaning of collective investment scheme. It is under Part XIII (Collective Investments Schemes) of the Act. It provides as follows:

Collective investment scheme means a scheme or arrangement in whatever form, including an open-ended and close-ended investment scheme, under which members of the public or qualified investors are invited or permitted to invest money or other assets in a portfolio, and in terms of which —

(a) two or more investors contribute money or other assets to and hold a participatory interest in a portfolio of the scheme through shares, units or any other form of participatory interest;

(b) such contributions are pooled and the portfolio of the scheme is managed as a whole;

(c) such contributions entitle such investors to hold a participatory interest in the portfolio of the scheme through shares, units or any other form of participatory interest; or

(d) such investors share the risk and the benefit of investment in proportion to their participatory interest in a portfolio of a scheme or on any other basis determined in the deed.