FPR 6.5.3

The Fund Manager of a Passported Fund that is a Public Fund must ensure that, except in the case of a Property Fund, a custodian is appointed at all times in relation to the Fund. Such custodian must:

(a) be authorised by the Securities and Commodities Authority to carry on the activity of providing custody or safekeeping and administration of property of a Fund; and
(b) not be the Fund Manager.
Derived from RMI233/2019 (Made 20th February 2019). [VER1/02-19]