Objective reason - UCITS V Provision

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As at the beginning of February 2015, there was not much guidance on what an "objective reason" is for the purposes of the criteria set out in UCITS V Article 22a for the delegation by a depositary of the safekeeping function to a third party.

But look at the equivalent objective reason provision in AIFMD:

UCITS Anatomy

This is an article about undertakings for collective investment in transferable securities directive (UCITS).

Resources: UCITS IV (2009/65/EC (EUR Lex)) | UCITS V (2014/91/EU (EUR Lex)) | ESMA Guidance on UCITS | Depositary comparison under AIFMD and UCITS
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