Source: http://dfsa.complinet.com/en/display/display_main.html?rbid=1547&element_id=14788
Timestamp: 2019-07-18 16:00:24
Document Index: 693307644

Matched Legal Cases: ['art 2', 'art 3', 'art 4', 'art 5', 'art 6', 'art 7', 'art 8', 'art 9']

Part 2 Definitional Provisions
Part 3 Fund Functionaries
Part 4 Core Rules Relating to Establishment and Management of Domestic Funds
Part 5 Rules Specific to Different Types of Domestic Funds
Part 6 Rules Specific to Specialist Classes of Domestic Funds
Part 7 Marketing of Domestic and Foreign Funds
Part 8 Transfer Schemes and Winding Up of Domestic Funds
Part 9: [Deleted]
CIR App 1 Delegation And Outsourcing
CIR A1.1 Application
CIR A1.2 Mandatory Provisions
CIR A1.3 Provisions Relating to Eligible Custodians
CIR A1.3.1
CIR A1.4 Provisions Relating to Fund Administration
CIR App 2 Meeting Procedures
CIR App 3 Approvals and Notifications
CIR App 4 Guidance On Asset Valuation And Pricing
CIR App 5 Constitution of a Domestic Fund
CIR App 6 Guidance on Fitness and Propriety for Oversight Functions [Deleted]
CIR App 7 [Deleted]
CIR App 7 Content of a Public Fund Prospectus
CIR App 8 Guidance for Hedge Fund Managers
CIR App 9 Use of Price Information Providers
Location: Dubai Financial Services Authority (DFSA) > Rulebook Modules > Collective Investment Rules (CIR) [VER25/07-19] > CIR App 1 Delegation And Outsourcing > CIR A1.3 Provisions Relating to Eligible Custodians > CIR A1.3.1
CIR A1.3 Provisions Relating to Eligible Custodians CIR A1.4 Provisions Relating to Fund Administration
Jul 11 2010 onwards
Whole Section PDF
The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.
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(1) A Fund ManagerG or TrusteeG must ensure that a Delegation AgreementG in relation to Providing CustodyG will:
(a) require that the title of any account of the Eligible CustodianG to hold Fund PropertyG sufficiently distinguishes that account from any account containing Investments belonging to the Eligible CustodianG , and is in the form requested by the Fund ManagerG or TrusteeG ;
(b) require that the Fund'sG InvestmentsG will only be credited and withdrawn in accordance with the instructions of the Fund ManagerG or TrusteeG ;
(c) require, subject to (2), that the Eligible CustodianG will hold the Fund'sG InvestmentsG separately from assets belonging to the Eligible CustodianG ;
(d) set out the arrangements for recording and registering the FundsG , claiming and receiving dividends and other entitlements and interest and the giving and receiving of instructions;
(e) require the Eligible CustodianG to deliver a statement to the Fund ManagerG or TrusteeG (including the frequency of such statement), which details the Fund'sG InvestmentsG deposited to the account;
(f) require, subject to (2), that all the InvestmentsG standing to the credit of the account are held by the Eligible CustodianG as the agent of the Fund ManagerG or the TrusteeG and the Eligible CustodianG is not entitled to combine the account with any other account or to exercise any charge, mortgage, lien, right of set-off or counterclaim against InvestmentsG in that account in respect of any sum owed to the Eligible CustodianG on any other account of the Fund ManagerG , TrusteeG or any other PersonG ; and
(g) detail the extent of liability of the Eligible CustodianG in the event of default.
(2) Neither the Fund ManagerG nor the TrusteeG is required to meet the requirements in (1) (c) and (f), where either the Eligible CustodianG or any other PersonG acting as the prime broker of the FundG does so in compliance with the requirements in CIR Rule 13.6.3.
Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]