Depositary - UCITS V Provision: Difference between revisions

Depositary - UCITS V Provision (view source)

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 {{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.
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 *{{aifmdprov|Depositary}} in the context of {{tag|AIFMD}}.
 *The important parts relating to delegation are set out in Article {{ucits5prov|22a}}.
-===Comparison of UCITS and AIFMD Depositary Regimes===
-The difference in liability for depositaries between {{tag|AIFMD}} and {{tag|UCITS}} is that <br>
-(i) liability can't be contractually excluded under {{tag|UCITS V}}, 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}}