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Depositary lite - AIFMD Provision: Difference between revisions
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Depositary lite - AIFMD Provision (view source)
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===Appointment language=== | ===Appointment language=== | ||
You could, and many fastidious [[legal eagles]] will, descend into the pit of a cavernous drafting oubliette trying to explain exactly | You could, and many fastidious [[legal eagles]] will, descend into the pit of a cavernous drafting oubliette trying to explain exactly | ||
{{ | {{quote|'''Depositary lite''': <br> | ||
(a) Where, for the purposes of the Alternative Investment Fund Managers Regulations 2013 (UK AIFMR), you are a “third country AIF” you may appoint us to act as your “Article 36 custodian”. We will carry out that appointment according to prevailing regulations and technical standards as they apply to Article 36 custodians. <br> | (a) Where, for the purposes of the Alternative Investment Fund Managers Regulations 2013 (UK AIFMR), you are a “third country AIF” you may appoint us to act as your “Article 36 custodian”. We will carry out that appointment according to prevailing regulations and technical standards as they apply to Article 36 custodians. <br> | ||
(b) Where the EU Alternative Investment Fund Managers Directive (EU AIFMD) applies, an “Article 36 custodian” means an entity appointed under Article 36(1)(a) of EU AIFMD to carry out the safekeeping of financial instruments that can be held in custody.}} | (b) Where the EU Alternative Investment Fund Managers Directive (EU AIFMD) applies, an “Article 36 custodian” means an entity appointed under Article 36(1)(a) of EU AIFMD to carry out the safekeeping of financial instruments that can be held in custody.}} | ||