sale

  1. (1) (in  COLL) (in relation to units in an authorised fund that is not a direct dealing scheme) the sale of units by the authorised fund manager acting as a principal.
  2. (2) (in COLL) (in relation to units in an authorised fund that is a direct dealing scheme) the issue of units by:
    1. (a) the ICVC; or

    2. (b) in relation to an AUT or ACS, the depositary or, where permitted by the instrument constituting the fund, the authorised fund manager.

       

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