Unitholders must approve merger

THE EDITOR: There is much being bandied about in the news media about the Unit Trust. Just like a Mutual Life Insurance Company seeking to become a publicly held corporation, needing to get the approval of its policyholders, The Unit Trust must also obtain the approval of its unitholders. A poll, surely, would have to be taken of all unitholders to seek their go ahead before any change in the existing legislation or corporate status of the Trust or its present method of operation is undertaken or even contemplated. This must be a prerequisite of any move by the Government or any body of people for that matter to change in any way the present status of the Unit Trust. Tampering and tinkering with people’s savings is a very dangerous and confidence shaking venture and must be avoided at all costs. Any change at all, if needed, must take place in an environment of even handedness, above board and with great integrity.

DAVID L MARTIN
Maraval