Depositary - AIFMD Provision: Difference between revisions

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-This is the provision that requires [[AIFM]]s to appoint a single depositary for each [[AIF]] that they manage. Note the effect of {{aifmdprov|36(1)}} with respect to non-EU AIFs, and the provisions of {{aifmdprov|21(8)}} regarding safekeeping of assets. Note also the parallell concept of a depositary under UCITS V, and the handy [[Depositary comparison under AIFMD and UCITS|comparison]] between the two regimes.
+{{aifmdanat|21|
+[[File:Texas book depository.png|450px|thumb|center|He ain’t heavy.]]
+}}''See also [[depositary lite]]''<br>
-{{aifmdprov|21(4)}} - {{aifmdprov|avoiding conflicts of interest}} <br>
+The person appointed by an {{aifmdprov|AIF}} to handle [[subscription]]s and [[redemption]]s, monitor cashflows, look after the {{aifmdprov|AIF}}’s assets — all that kind of thing.
-{{aifmdprov|21(5)}} - {{aifmdprov|location of depositary}} <br>
+The key parts of AIFMD insofar as they relate to {{aifmdprov|depositary}} are: <br>
-{{aifmdprov|21(6)}} - {{aifmdprov|conditions to appointment of depositary in a third country}} <br>
+*{{aifmdprov|21(4)}} - {{aifmdprov|avoiding conflicts of interest}} <br>
-{{aifmdprov|21(7)}} - {{aifmdprov|general responsibilities of depositary}} <br>
+*{{aifmdprov|21(5)}} - {{aifmdprov|location of depositary}} <br>
+*{{aifmdprov|21(6)}} - {{aifmdprov|conditions to appointment of depositary in a third country}} <br>
-That, in a {{nutshell}}, provides:
+*{{aifmdprov|21(7)}} - {{aifmdprov|general responsibilities of depositary}} <br>
+*{{aifmdprov|21(11)}} - {{aifmdprov|criteria for delegating depositary functions to third parties}} <br>
-{{nuts|AIFMD|Depositary}}
+*{{aifmdprov|21(12)}} - {{aifmdprov|Liability for loss of assets}} <br>
+*{{aifmdprov|21(13)}} - {{aifmdprov|Liability not affected by delegation except in certain circumstances}} <br>
+*{{aifmdprov|21(14)}} - {{aifmdprov|further provisions for where third party is in a third country}} <br>
+{{depositary}}
+{{sa}}
-{{aifmdanatomy}}
+*{{aifmdprov|Depositary lite}}''
+{{ref}}