(1) Subject to paragraph (2), a responsible person shall not increase the maximum relevant charge without the prior approval of unit-holders given on the basis of a simple majority of votes cast in general meeting or with the prior written approval of all unit-holders of the relevant UCITS (in accordance with the constitutional document) or such other majority as is specified in the constitutional document of the relevant UCITS.
(2) A responsible person shall -
(a) provide unit-holders with reasonable notice of any proposed increase in the relevant charge, and
(b) permit a unit-holder to redeem any or all of the unit-holder’s units prior to the implementation of the proposed increase.
(3) In this Regulation, "relevant charge" means, in the context of a particular UCITS, a charge relating to the redemption or repurchase of units in that UCITS.