Section 10Part 3 — Mutual Fund Administration
Person to be authorised to administer mutual funds
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Unless acting with, and in accordance with, the authorisation of the Authority, a person sh all not act or carry on business as a mutual fund administrator unless authorised to do so by a Mutual Fund Ad ministrators Licence, and a person who contravenes this provision commits an offence and is liable on conviction to a fine of one hundred thousand dollars.