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{{ | {{aifmdanat|21(12)|}}''See also Article {{aimfdprov|21(13)}} relating to discharge of liability for delegation. Also, compare with Art. {{ucits5prov|24}} of [[UCITS]]: the equivalent and even more restrictive provision.'' <br> | ||
A key part of the {{aifmdprov|depositary}}’s | A key part of the {{aifmdprov|depositary}}’s responsibility which it will be very keen to foist onto the [[prime broker]] who wishes to hold custody of the {{aifmdprov|AIF}}’s {{aifmdprov|financial instrument}}s. | ||
See also Article {{aifmdprov|DR100}} of the delegated regulation for even more detail. | |||
=== You what? === | |||
Fun fact: the drafting — perhaps during translation — lost its way in the first paragraph. When you peel away the flannel, it amounts to this: | |||
{{Quote|The depositary is liable if it, or someone to whom it has delegated the custody of financial instruments, loses —.}} | |||
Now we think — all right, we ''know'' — this is meant to say “... loses the financial instruments it is holding in custody”. | |||
{{External event beyond its reasonable control}} | |||
{{sa}} | |||
*Art. {{ucits5prov|24}} of [[UCITS]] | |||
*Art. {{aifmdprov|DR100}} of the delegated regulation | |||
{{ref}} |