Suspension of Dealings. We or the relevant Fund managers may at any time suspend the valuation, issuance and redemption of units at Our discretion, but not limited to the following circumstances. • a significant part of the Portfolio fund or ILP sub-funds are quoted, listed, traded or dealt in is closed or when the respective stock exchange / market is restricted or suspended or when dealings in any ILP sub-funds are restricted or suspended; or • when a breakdown occurs in any of the means normally employed in ascertaining the value of investments or the net asset value or the issue and redemption price per unit for the Portfolio fund or when the value of the ILP sub-funds investment or other assets cannot be reasonably or fairly ascertained; or • during which the Portfolio fund is unable to repatriate funds for the purpose of fund switching, redemption or acquisition of investments cannot be processed at normal rates of exchange; or • when circumstances exist as a result of which in the opinion of the Fund managers it is not reasonably practicable for the relevant ILP sub-funds to dispose of investments or as a result of which any such disposal would be materially prejudicial to You. We will notify You of such suspension and the termination of such suspension by giving You thirty (30) days’ written notice.
Suspension of Dealings. We or the relevant ILP sub-fund Managers of the ILP sub-fund may at any time suspend the valuation, issuance and redemption of units at Our discretion, but not limited to the following circumstances.
Suspension of Dealings. The Manager may, either with the prior agreement of the Trustee or as the Trustee requires, suspend the creation, sale and redemption of Units if the Manager or the Trustee (as the case may be) is of the opinion that due to exceptional circumstances there is good and sufficient reason to do so having regard to the interests of Holders. The suspension of dealings in Units must cease as soon as practicable after the Manager or the Trustee (as the case may be) is no longer of the opinion that exceptional circumstances referred to above continue to apply and in any event within 28 days of the commencement of the suspension. If at any time it appears to the Trustee that there is insufficient property in the Fund by way of cash or near cash, property related assets or other assets capable of early liquidation to enable the Trustee to cancel Units as necessary to enable the Manager to meet the demand or likely demand for redemption of Units, the Trustee must require the Manager to suspend the creation, sale and redemption of Units (whether by way of issue, redemption, purchase or sale). Any suspension initiated by the Trustee on the above grounds expires on the 28th day after the date of the suspension. However, if it appears to the Manager or the Trustee that it is desirable in the interests of Holders that the suspension should be extended beyond such 28 day period, the Manager or the Trustee (as the case may be) may request the Guernsey Financial Services Commission to extend the extension. Whenever the Manager or the Trustee (as the case may be) declares a suspension as described above, then it must inform the Guernsey Financial Services Commission of the suspension and the reasons for it and it must also give notice of the suspension and the reasons for it to the Channel Islands Stock Exchange.
