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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
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Collective Investment Rules (CIR) [VER25/07-19]
Part 6 Rules Specific to Specialist Classes of Domestic Funds
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Jul 11 2010 - Jan 31 2016Feb 1 2016 onwards

CIR 13.4.2B

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The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) If a Fund ManagerG wishes to rely on CIR Rule 8.2.2(3)(a)(ii), or a TrusteeG of an Investment TrustG wishes to rely on CIR Rule 8.2.3(b), to make alternative arrangements for the purposes of those Rules, it may do so only if the requirements in (2) and (3) are met.
(2) The Fund ManagerG or, in the case of an Investment TrustG , the TrusteeG , for the purpose of meeting the legal or regulatory requirements in relation to the ownership of Real PropertyG applicable in the jurisdiction in which the Real PropertyG is situated, may implement alternative arrangements for safekeeping where the arrangements:
(a) in the case of an Investment TrustG , enable the TrusteeG to continue to control the Fund PropertyG ; and
(b) in all cases:
(i) do not enable the Fund ManagerG to have unfettered control of the Fund PropertyG ; and
(ii) are in accordance, where applicable, with the requirements in Rules CIR 13.4.6 to CIR 13.4.11.
(3) If the Fund ManagerG or, in the case of an Investment TrustG , the TrusteeG , implements arrangements in accordance with (2), it must satisfy the DFSAG that the arrangements have the effect specified in (2) and are legally effective in the DIFCG and in the jurisdiction where the Real PropertyG is situated.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]
[Amended] RM158/2015 (Made 9th December 2015). [VER19/02-16]