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(1) An approved trustee of a registered scheme who becomes aware of the  occurrence of an event of a significant nature shall

(a) not later than the third working day of becoming aware of the event, give written notice to the Authority setting out the particulars of the event unless the event is specified in the Guidelines of the Authority;

(b) keep a record of particulars of the event; and

(c) Permit the Authority to inspect the record at any reasonable time during business hours. 

(2) The approved trustee shall in writing to the Authority give further and better particulars of the event where the Authority requests for more information on the event.

(3) An event of a significant nature includes

(a)any event that causes the approved trustee to contravene the provisions of the Act , the governing rules of the scheme or breach a condition to which the approved trustee is subject to;

(b) the winding-up of the approved trustee, the appointment of a  receiver or manager of the assets of the approved trustee;

(c) any change or proposed change of a controller of the approved  trustee, where the approved trustee is a company or includes a  company; or

(d)  any material change in the approved trustee's capacity or ability to act as an approved trustee, including

(i) a systems failure which may affect the approved trustee's ability to perform its duties; 

(ii) the cancellation, expiration or termination of the insurance in respect of the scheme,

(iii) the death or incapacity of a person that affects the person’s ability to carry out that person’s duties where the approved trustee is or includes a company; or

(iv) The cancellation, expiration or termination of the performance guarantee in respect of a person if the approved trustee is or includes an individual person.