Section 151 Investments and Securities Act

Section 151 of the Investments and Securities Act 2025 is about Types of collective investment scheme. It is under Part XIII (Collective Investments Schemes) of the Act. It provides as follows:

(1) The Commission may approve a collective investment scheme which is administered as —
(a) unit trust scheme;
(b) open-ended or close-ended investment company;

(c) real estate investment company or trust;
(d) specialised or alternative investment scheme; or
(e) such other schemes as may be approved by the Commission.

(2) Notwithstanding the provisions of subsection (1), the Commission may by notice, designate a scheme as constituting a collective investment scheme.

(3) For the purpose of this Part, sections 184, 185 and 187 of the Companies and Allied Matters Act, shall not apply to a scheme constituted as an open-ended investment company or real estate investment company.