Home   Browse contents   View updates   Search  
     Quick search

Whole SectionText only Print Print Manager Link

(1 version)
Jul 11 2010 onwards

21. Trustee

Whole Section PDF

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

(1) A person shall not act as a Trustee of a Domestic Fund which is an Investment Trust unless that person is either:
(a) a body corporate which is an Authorised Firm with a Licence authorising it to act as a Trustee or to Provide Custody; or
(b) a person regulated and supervised by a Financial Services Regulator in a Recognised Jurisdiction with respect to its custody or depository services.
(2) A person does not breach the prohibition in Article 21(1) where that person acts under a sub-custody arrangement entered into between that person and a person referred to in Article 21(1)(a) or (b).