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CIR 6A.1.5

A Fund Manager using a Fund Platform must ensure that if the ICC or an Incorporated Cell of the ICC has any Directors other than the Directors of the Fund Manager, that the Fund Manager exercises control over the board of the ICC or Incorporated Cell, as the case may be, either by having:

(a) a majority of its Directors on the board of the ICC or the Incorporated Cell; or
(b) the power to veto decisions of that board, if the Fund Manager reasonably believes that the decision will have an adverse impact on the ICC or the Incorporated Cell.