Safekeeping by depositary - UCITS V Provision
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|UCITS V Anatomy™
Note the depositary may delegate the safekeeping function to a third party 22a only in limited circumstances, one of which being that the delegate (for which read prime broker) cannot reuse the assets for its own account (though it can put them into an agent lending programme): See 22(7).
- Article 22a(3) relating to depositary delegation
- Agent lending