(a) The Bank shall not authorise an investment company if the directors are not of sufficiently good repute or sufficiently experienced in relation to the type of business carried out by the investment company.
(b) The names of the directors of the investment company and of every person succeeding them in office must be communicated to the Bank.
(2) An investment company may start business as soon as authorisation has been granted.
(3) An investment company may only manage assets of their own portfolio and may not, under any circumstances, receive any mandate to manage assets on behalf of a third party.