Right Of Rescission Mutual Funds
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FAQ
Rescission of purchase of mutual fund security (3) The right to rescind a purchase made under a contractual plan may be exercised only with respect to payments scheduled to be made within the time specified in subsection (1) for rescinding a purchase made under a contractual plan.
Right of Withdrawal means the right, given to a purchaser under the Legislation, to withdraw from a purchase order for a security of a mutual fund if the dealer from which the purchaser purchases the security receives written notice evidencing the intention of the purchaser not to be bound by the purchase order within ...
Rescission of purchase of mutual fund security (3) The right to rescind a purchase made under a contractual plan may be exercised only with respect to payments scheduled to be made within the time specified in subsection (1) for rescinding a purchase made under a contractual plan.
Under securities law in some provinces and territories, you have the right to: withdraw from an agreement to buy mutual fund units within two business days after you receive a simplified prospectus or Fund Facts document, or. cancel your purchase within 48 hours after you receive confirmation of the purchase.
If you have invested money through a distributor, you can place a request with him or her for the redemption of units. Following that, your distributor will send the request to the AMC office or RTA. Once the process is completed, the money will be sent to your bank account.
