View source for Liability for loss of assets - AIFMD Provision

{{aifmdanat|21(12)|}}''See also Article {{aimfdprov|21(13)}} relating to discharge of liability for delegation. Also, compare with Art. {{ucits5prov|24}} of [[UCITS]]: the equivalent and even more restrictive provision.'' <br>
A key part of the {{aifmdprov|depositary}}’s responsibility which it will be very keen to foist onto the [[prime broker]] who wishes to hold custody of the {{aifmdprov|AIF}}’s {{aifmdprov|financial instrument}}s.

See also Article {{aifmdprov|DR100}} of the delegated regulation for even more detail.

=== You what? ===
Fun fact: the drafting — perhaps during translation — lost its way in the first paragraph. When you peel away the flannel, it amounts to this:
{{Quote|The depositary is liable if it, or someone to whom it has delegated the custody of financial instruments, loses —.}}
Now we think — all right, we ''know'' — this is meant to say  “... loses the financial instruments it is holding in custody”.
{{External event beyond its reasonable control}}

{{sa}}
*Art. {{ucits5prov|24}} of [[UCITS]]
*Art. {{aifmdprov|DR100}} of the delegated regulation
{{ref}}