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Article 5-1
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Where a sub-distributor of an offshore fund purchases fund shares in its own name on behalf of investors, it shall faithfully implement the measures to prevent short-swing trading as stated in the prospectus. Where any of such investors engages in any fund transaction that meets the criteria of short-swing trading as set out in the prospectus, the sub-distributor shall provide relevant information on that investor, in the format prescribed by the FSC, either to the offshore fund institution or to the master agent.
Except as otherwise provided by law, the offshore fund institution or master agent shall keep in confidence the information provided by the sub-distributor under the preceding paragraph; if it breaches this confidence, it shall be liable for damages any injury sustained as a result by the sub-distributor or by investors in its funds.
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