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Dubai Financial Services Authority (DFSA): Contents

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  Versions
(1 version)
 
Jul 11 2010 onwards

CIR A1.4.1



Whole Section PDF

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.

A Fund ManagerG or TrusteeG must ensure that a Delegation AgreementG in relation to Providing Fund AdministrationG requires that the Service ProviderG must not hold or control monies or assets belonging to third parties in connection with such administration except in the following circumstances:

(a) holding cheques to the order of a Fund'sG bank account, provided such cheques are securely held for a maximum of three business days prior to being deposited into the relevant Fund'sG bank account or returned to the drawer of the cheque; or
(b) where the Service ProviderG has control over bank accounts kept for the purposes of the FundG , the accounts must be conducted strictly in accordance with the Fund Manager'sG instructions and any agreed mandate with the bank.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]