Rules governing Sponsored Corporations in dealing with Sponsors
4.15
(a)
Rule 4.26 of the ACE LR provides that a Sponsored Corporation must consult and seek the advice of its Sponsor when it contemplates certain corporate proposals or transactions. What are the obligations of the Sponsor when it is consulted by its Sponsored Corporation pursuant to Rule 4.26 of the ACE LR?
The Sponsor must advise the Sponsored Corporation on the relevant legislation, guidelines and requirements which are applicable to the circumstances set out in Rule 4.26 of the ACE LR. If the Sponsor is appointed as an Adviser, it must also comply with the requirements in Rule 4.16.