(1) Neither a person who, under a scheme establishing a designated investment fund, is either a trustee or the manager of the fund, or is acting as auditor or solicitor to the fund, nor any other person shall issue, publish or circulate or cause to be published or printed -

(a) a prospectus relating to the fund, or

(b) a notice, brochure, circular or other document advertising, promoting or tending to promote -

(i) such a prospectus, or

(ii) the fund,

unless, at the time it is issued, published or circulated or caused to be published or printed, the terms of the prospectus, notice, brochure, circular or other document stand approved of by the Minister under this section.

(2) Where a prospectus, notice, brochure, circular or other document has been approved of by the Minister, a person shall not amend or otherwise alter its terms without the prior approval of the Minister of the amendment or other alteration.