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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 16 July 2013 - onwards
    Version 1 of 1    

Regulation 19 General principles.

(1) An AIFM shall use, at all times, adequate and appropriate human and technical resources that are necessary for the proper management of each AIF.

(2) In particular, the Bank, having regard also to the nature of each AIF managed by the AIFM, shall require that the AIFM has sound administrative and accounting procedures, control and safeguard arrangements for electronic data processing and adequate internal control mechanisms including, in particular, rules for personal transactions by its employees or for the holding or management of investments in order to invest on its own account and ensuring, at least, that each transaction involving each AIF may be reconstructed according to its origin, the parties to it, its nature, and the time and place at which it was effected and that the assets of each AIF managed by the AIFM are invested in accordance with the AIF rules or instruments of incorporation and the legal provisions in force.

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