(1) The value of an investor's rights in an investment scheme may be reduced in the circumstances, and to the extent, set out in paragraphs (3) to (5).
(2) The value of the investment property may be reduced in the circumstances, and to the extent, set out in paragraph (9).
(3) To the extent that an investor's rights in an investment scheme are represented by a fund allocated to him to the exclusion of other investors, the value of those rights may be reduced by the making of deductions from that fund no greater than, at the choice of the manager -
(a) the relevant percentage of its value for each day on which it is held; or
(b) the proportion attributable to the investor's fund of the relevant percentage of the value of the investment property for each day on which the investor's fund is held for the purposes of the scheme.
(4) To the extent that an investor's rights in an investment scheme are represented by a share of funds held for the purposes of the scheme, the amount of that sha
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