Income Equalisation Account definition

Income Equalisation Account means an equalisation account operated by the Manager at its discretion from time to time with regard to a Designated Portfolio so as to ensure that Shareholders participate in Income on an equitable basis in accordance with the provisions of Clause 13 and the term "Income Equalisation" shall be construed accordingly;
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Examples of Income Equalisation Account in a sentence

  • Income Equalisation Account is being maintained by crediting or debiting the equalisation account in respect of purchase or redemption of units by an appropriate amount which represents the distributable income at the time of purchase or redemption.

  • Income Equalisation Account is being maintained by crediting or (debiting) the equalisation account in respect of purchase or redemption of units by an appropriate amount, which represents the distributable income at the time of purchase or redemption.

  • Income Equalisation Account is being maintained by crediting or debiting the equalization account in respect of purchase or redemption of units by an appropriate amount, which represents the distributable income at the time of purchase or redemption.

  • Income Equalisation Account is being maintained by crediting or (debiting) the equalization account in respect of purchase or redemption of units by an appropriate amount, whichrepresents the distributable income at the time of purchase or redemption.

  • When units are sold / repurchased, an amount equivalent to the distributable income attributable to the sale / repurchase of units is credited / debited to the Income Equalisation Account.

  • Unit Premium Reserve Account Upon issue and redemption of units, the net premium or discount to the face value of units is adjusted against the unit premium reserve account of the Scheme, after an appropriate amount of the issue proceeds and redemption payout is credited or debited respectively to the income equalisation account.5. Income Equalisation Account An appropriate part of the sale proceeds or the redemption amount, as the case may be, is transferred to income equalization account.

Related to Income Equalisation Account

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • FIXED ACCOUNT is a separate investment account of ours into which purchase payments may be invested or Account Value may be transferred.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.