Template:Nutshell UCITS V 22a: Difference between revisions

Template:Nutshell UCITS V 22a (view source)

408 bytes removed , 28 March 2019

no edit summary

82,891

edits

@@ Line 1: / Line 1: @@
 {{ucits5prov|22a(1)}}. The {{ucits5prov|depositary}} may '''not''' delegate to third parties the fund administrator functions set out in Article {{ucits5prov|22(3)}} and {{ucits5prov|22(4)}} (subscriptions and redemption, calculating [[NAV]], cash monitoring etc). <br>
-{{ucits5prov|22a(2)}}. The {{ucits5prov|depositary}} '''may''' delegate the safekeeping functions set out in Article {{ucits5prov|22(5)}} but only where: <br>
+{{Nutshell UCITS V 22a(1)}}
-:(a) there is no intent to end-run the UCITS rules; <br>
+{{Nutshell UCITS V 22a(2)}}
-:(b) the {{ucits5prov|depositary}} can show an {{ucits5prov|objective reason}} for the [[delegation]];
-:(c) the {{ucits5prov|depositary}} has exercised all due care in appointing and monitoring the delegate delegate’s continued performance. <br>
 {{Nutshell UCITS V 22a(3)}}