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  • l)

    The establishment of a minimum guaranteed income and the duration of this guarantee, explaining how the investment policy will meet this objective, in case the management company or companies assume the risk of investment;

  • m)

    Penalties applicable in case the management of the fund is discontinued;

  • n)

    The rights, obligations and duties of the management company or companies in terms of legal and regulatory norms;

  • o)

    The method of communication and consolidation of information between the various management companies, where such companies exist;

    • p)

      Indication of the existence of any investment management contracts;

    • q)

      Conditions for arbitration and the relevant jurisdiction.

  • 3.

    The management contract cannot cancel or alter any of the provisions of

the deed of constitution.

  • 4.

    Where a closed pension fund is managed by more than one management company, the provisions contained in paragraph 2, sub-paragraphs d), e),

    • l)

      and m) above may be included in the contract entered into individually between the founder members and each management company of the fund.

  • 5.

    A copy of the management contract and any subsequent amendments thereto shall be deposited with the AMCM.

Article 18 (Management regulation of open pension funds)

1. Open pension funds shall be considered as constituted on the date of approval by AMCM of the management regulation mention in Article 14 paragraph 3, which shall be subject to publication in the Official Gazette, including any subsequent alterations.

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