Section 186 Investments and Securities Act

Section 186 of the Investments and Securities Act 2025 is about Restriction of activities of managers. It is under Part XIII (Collective Investments Schemes) of the Act. It provides as follows:

(1) The manager of a scheme shall not engage in activities other than those mentioned in subsection (2).

(2) The activities referred to in subsection (1) are —
(a) acting as manager of —
(i) a scheme,
(ii) an open-ended investment company or any body corporate whose business consists of investing its funds with the aim of spreading investment risk and giving its members the benefit of the expert management of its funds by or on behalf of that body, or
(iii) any other scheme under which the contributions of the participants and the profits or income out of which payments are to be made to them are pooled; and

(b) activities for the purposes of or in connection with those activities mentioned in paragraph (a).

[/membership]