Versions

 

CIR 8.12.2

(1) Subject to the requirements in CIR Rule 8.12.4, a Fund Manager may delegate one or both of the Financial Service activities of Providing Fund Administration and Managing Assets to a Service Provider.
(2) For the purposes of (1), and in relation to Providing Fund Administration for a Public Fund, the Service Provider must be:
(a) a Person authorised by the DFSA to carry on the activity of Providing Fund Administration; or
(b) a Person who is lawfully entitled in a Zone 1 jurisdiction or Recognised Jurisdiction to carry on in that jurisdiction the activities of:
(i) asset pricing and Fund valuation;
(ii) issuing and redemption of Units; and
(iii) record keeping and maintaining the Unitholders register.
(3) For the purposes of (1), and in relation to Managing Assets, the Service Provider must be:
(a) a Person authorised by the DFSA to carry on the activity of Managing Assets; or
(b) a Person who is authorised by a Financial Services Regulator in a Zone 1 jurisdiction or Recognised Jurisdiction to carry on an equivalent activity in that jurisdiction.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]