1.1.1 The Rules in this module (CIR):
a. are made for the purposes of the Collective Investment Law 2010 and the Investment Trust Law 2006; and
b. apply to every Person to whom the legislation in (a) applies except as otherwise provided.
Guidance
1. Article 1 of the Collective Investment Law 2010 provides as follows:
“a. This Collective Investment Law 2010 repeals and replaces the Collective Investment Law 2006 (“the Previous Law”) and may be cited as the “Collective Investment Law of 2010” (“this Law”).
b. Except where otherwise provided in the Rules, anything done or omitted to be done pursuant to or for the purposes of the Previous Law is deemed to be done or omitted to be done pursuant to or for the purposes this Law.
c. Without limiting the generality of Article 1(b), such repeal shall not affect:
i. any right, privilege, remedy, obligation or liability accrued to or incurred by any person; or
ii. any investigation or legal or administrative proceeding commenced or to be commenced in respect of any right, remedy, privilege, obligation or liability,
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