31. Permitted oversight arrangements

Past version: effective from 18/04/2006 - 31/07/2006
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(1) The DFSA shall make Rules:
(a) setting out permitted oversight arrangements; and
(b) prescribing the criteria to be met by a person before being permitted to be appointed to carry out oversight functions.
(2) Any suitably qualified person appointed to oversee the operation of the Fund must be independent in accordance with Article 34.
(3) The DFSA may, in its absolute discretion, at any time object to the appointment of a person to provide oversight of a Fund and require the Operator to appoint a replacement.
(4) The DFSA shall notify the Operator of such objection in writing and, where requested by the Operator, the reasons for such objection.