Depositary - UCITS V Provision: Difference between revisions
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{{ucits5anat|22(3)}} | {{ucits5anat|22(3)}} | ||
{{depositary}} | ===Comparison of {{tag|UCITS}} and {{tag|AIFMD}} [[depositary]] regimes=== | ||
The main differences between an [[AIFMD depositary]] and a [[UCITS depositary]] are: <br> | |||
(i) An [[AIFMD depositary]] can, but a [[UCITS depositary]] cannot, contractually exclude its liability when it delegates the safekeeping function to a third party; and <br> | |||
(ii) {{tag|UCITS V}} prospectuses must contain a description of any safekeeping arrangements delegated, identification of the delegate, and any [[conflict of interest]] that may arise. | |||
{{depositarycomparison}} | |||
===General duties of a [[UCITS depositary]]=== | |||
Article {{ucits5prov|22(3)}} notes the {{ucits5prov|depositary}}’s general duties. | Article {{ucits5prov|22(3)}} notes the {{ucits5prov|depositary}}’s general duties. | ||
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*{{aifmdprov|Depositary}} in the context of {{tag|AIFMD}}. | *{{aifmdprov|Depositary}} in the context of {{tag|AIFMD}}. | ||
*The important parts relating to delegation are set out in Article {{ucits5prov|22a}}. | *The important parts relating to delegation are set out in Article {{ucits5prov|22a}}. | ||