Exemption of managers of mutual funds

(1) A person who carries on the business of manager of mutual funds in or from within Belize shall be exempt from the requirement to hold a licence under section 22 of the Act if he meets the conditions stipulated in regulation 6. (2) Where the person referred to in subregulation (1) is exempt from the requirement to hold a licence under section 22 of the Act, he shall be deemed a recognised manager. CAP. 268.