FME Regulatory Intelligence, Learning & Practice · IFSCA (Fund Management) Regulations, 2025
Surrender of certificate by an Investment Trust whose units are not listed

Regulation 103

Surrender of certificate by an Investment Trust whose units are not listed

IFSCA (Fund Management) Regulations, 2025No change in 2026Chapter VI · Other Fund Management Activities

Chapter VI · Other Fund Management Activities

Regulation 103 – Surrender of certificate by an Investment Trust whose units are not listed
Medium importance about 3 min

Investment Trusts — REITs & InvITs: Setting up and running listed and unlisted Investment Trusts, from sponsor to distribution.

1

In plain English

An unlisted Investment may surrender its registration; on acceptance it can no longer act as an Investment Trust, but the trust and its parties remain liable for their past acts and omissions.

In plain English
2

The rule, in its own words

Read the exact text of Regulation 103
103. (1) An Investment Trust whose units are not listed on a recognised stock exchange may choose to surrender its certificate of registration to the Authority and on acceptance of surrender of certificate of registration, it shall no longer undertake the activity of an Investment Trust. (2) The Investment Trust and parties to the Investment Trust shall continue to be liable for all their acts of omissions and commissions with respect to activities of the Investment Trust notwithstanding surrender of registration to the Authority.
Statutory text — Principal Regulations, 2025 (as amended to 30 January 2026), consolidated where amended. The notified Gazette text prevails. Tap a highlighted word for how it functions.
3

Exceptions and conditions

Taken from the wording of this provision — the carve-outs and conditions worth reading closely.

(2) The Investment Trust and parties to the Investment Trust shall continue to be liable for all their acts of omissions and commissions with respect to activities of the Investment Trust notwithstanding surrender of registration to the Authority.
4

What this means in practice

Compliance actions
Applies to
Investment Trust (unlisted)
Frequency
Event-driven
5

Where it connects

Read alongside

6

Check yourself

Quiz Centre

Test yourself on Regulation 103

2 questions in the unified bank test this regulation. Each explains every option and cites the provision.

An unlisted Investment Trust may surrender its registration, but remains liable for past acts.
7

Your notes

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Surrender of certificate by an Investment Trust whose units are not listed: get advice on how it applies to your structure, scheme or filing.

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Investment Trusts — REITs & InvITs
Regulation 103 Chapter VI · Part B Medium · about 3 min