“11 Obligation to make specified information available to unit holders

• “(1) The manager of a unit trust (other than a manager referred to in subsection (2)) must, annually, send to every unit holder—

  • “(a) a copy of—

    • “(i) the audited statement of accounts in respect of the trust; and

    • “(ii) a statement summarising all amendments to the trust deed that have been made since the date of the last statement; or

  • “(b) a notice containing the statements specified in subsection (3).

  “(2) The manager of a unit trust that is an issuer (as defined in section 4(1) of the Financial Reporting Act 1993) must, annually, send to every unit holder—

  • “(a) a copy of—

    • “(i) the financial statements registered under the Financial Reporting Act 1993 in respect of the trust; and

    • “(ii) the auditor's report on those statements; and

    • “(iii) a statement summarising all amendments to the trust deed that have been made since the date of the last statement; or

  • “(b) a notice containing the statements specified in subsection (3).

  “(3) The notice referred to in subsection (1)(b) or (2)(b), as the case may be, must contain—

  • “(a) a statement to the effect that the unit holder has a right to receive from the manager, free of charge, a copy of the information specified in subsection (1)(a) or (2)(a) (the specified information) if the unit holder, within 15 working days of receiving the notice, makes a request to the manager to receive a copy of the specified information; and

  • “(b) a statement to the effect that the unit holder may obtain a copy of the specified information by electronic means; and

  • “(c) a statement as to how the unit holder may obtain a copy of the specified information by electronic means (for example, from a specified Internet site).

  “(4) The notice may be accompanied by any additional information or documentation that the manager thinks fit.

“11A Manager must send copy of specified information on request

• “(1) If the manager has sent a notice to a unit holder under section 11(1)(b) or (2)(b) and the unit holder, within 15 working days of receiving that notice, makes a request to the manager to receive a copy of the specified information, the manager must, as soon as practicable, send to the unit holder, free of charge, a copy of that specified information.

  “(2) If a unit holder makes a request under subsection (1),—

  • “(a) the request must be treated as a request for the manager to send to the unit holder each year a copy of the specified information under section 11(1)(a) or (2)(a); and

  • “(b) the manager must send to the unit holder each year a copy of the specified information under section 11(1)(a) or (2)(a) until the unit holder revokes the request by notice to the manager.

“11B Specified information made available by electronic means

• If the manager has sent a notice to a unit holder under section 11(1)(b) or (2)(b), the manager must ensure that—

  • “(a) a copy of the specified information is available in the manner described in section 11(3)(c) at all reasonable times during the period beginning on the date the notice is sent and ending on the date the manager acts under section 11(1) or 11(2) in relation to the next accounting period; and

  • “(b) the manner described in the notice under section 11(3)(c) allows a copy of the specified information to be readily accessible so as to be usable for subsequent reference.”