CIR 8.12.3
(1) Subject to CIR Rules 8.12.4, a Trustee may, with the prior written consent of the Fund Manager , delegate one or both of the Financial Service activities of Providing Fund Administration and Providing Custody 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 Providing Custody , the Service Provider must be an Eligible Custodian .
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]