CIR 13.4.2A

A Fund Manager of an Exempt Property Fund is not required to appoint an Eligible Custodian under CIR Rule 8.2.2(2) for Real Property if:

(a) the Fund Manager acts as custodian of the Real Property or, if the Fund Manager uses a Fund Platform, the Incorporated Cell Company acts as custodian of the Real Property; and
(b) the Fund Manager has in place effective arrangements which ensure that the Real Property is not available to creditors if the Fund Manager or the Incorporated Cell Company (as the case may be) becomes insolvent.
[Added] RM158/2015 (Made 9th December 2015). [VER19/02-16]
[Amended] DFSA RMI248/2019 (Made 18th December 2019) [VER26/12-19].