WHAT YOU MUST BE TOLD

Weekend Argus (Saturday Edition) - - PERSONALFINANCE -

Ac­cord­ing to the Share Blocks Con­trol Act, when you buy into a share block scheme, your sales doc­u­men­ta­tion should con­tain at least the fol­low­ing in­for­ma­tion:

De­tails of the direc­tors, au­di­tor and man­age­ment of the share block com­pany; De­tails about in­sur­ance of the prop­erty; The lat­est an­nual fi­nan­cial state­ments of the com­pany; The mem­o­ran­dum and ar­ti­cles of as­so­ci­a­tion of the com­pany, which tell you what your obli­ga­tions and rights are in that par­tic­u­lar scheme; The use agree­ment; The man­age­ment reg­u­la­tions of the scheme; Con­fir­ma­tion on whether a sec­tional ti­tle reg­is­ter has been opened or whether one is an­tic­i­pated.

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