Section 154: Types of collective investment Scheme. Cap 59

(1) The Commission may approve a collective investment scheme which is administered as:
(a) unit trust scheme;
(b) open-ended investment company; or
(c) real estate investment company or trust.
(2) The Commission may by notice published in the Gazette, designate a scheme as constituting a collective investment scheme.
(3) For the purpose of this part of this Act the provisions of sections 160 and 161 of the Companies and Allied Matters Act 1990 shall not apply to a scheme constituted as an open ended investment company or real estate investment company.