(1) Authorised investment companies which market their shares exclusively through one or more stock exchanges on which their shares are admitted to official listing may, at the discretion of the Bank, be exempted from the requirement to have trustees within the meaning of these Regulations.
(2) Regulations 59 to 63 and Regulation 86 shall not apply to such companies. The rules for the valuation of such companies' assets must be stated in their articles.