1. A mutual fund may apply to the Authority to be exempt from Corporate Tax as a Qualifying Mutual fund where all of the following conditions are met: a. The mutual fund or the mutual fund's manager is subject to the regulatory oversight of a competent authority in the State, or a foreign competent authority recognized for the purposes of this Article. b. Shares in the mutual fund are traded on the Recognized Stock Exchange, or are marketed and made available sufficiently and widely to investors. c. The main or principal purpose of the mutual fund is not to avoid corporate tax. d. Any other conditions as may be prescribed in a decision issued by Cabinet at the suggestion of the Minister. 2. For the purposes of monitoring the continued compliance by a Qualifying Mutual Fund with the conditions of Clause (1) of this Article, the Authority may request any relevant information or records within the timeline prescribed by the Authority.
Interpretation and application must be checked against the official text and current version.