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Template:Depositary: Difference between revisions
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→Can a {{aifmdprov|depositary}} delegate its functions?
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There are strict conditions to the delegation, and it tends to comes with strings attached. | There are strict conditions to the delegation, and it tends to comes with strings attached. | ||
“Delegation” is different from “sub-contracting”: delegation means the third party delegate contracts with the fund directly to perform the function, without the {{aifmdprov|depositary}} intermediating. This is why it is important that the {{aifmdprov|depositary}} remains strictly liable for the performance of the delegated function. There is much more on this topic in the article on [[delegation]]. | “Delegation” is different from “sub-contracting”: delegation means the third party delegate contracts with the fund directly to perform the function, without the {{aifmdprov|depositary}} intermediating. This is why it is important that the {{aifmdprov|depositary}} remains strictly liable for the performance of the delegated function. There is much more on this topic in the article on [[delegation]]. <br> | ||