1. A depositary shall either have its registered office or be established in the same Member State as that of the investment company.
2. A depositary shall be an institution which is subject to prudential regulation and ongoing supervision.
3. Member States shall determine which of the categories of institutions referred to in paragraph 2 shall be eligible to be depositaries.
4. The depositary shall enable the competent authorities of the UCITS home Member State to obtain, on request, all information that the depositary has obtained while discharging its duties and that is necessary for the competent authorities to supervise compliance of the UCITS with this Directive.
5. Where the management company's home Member State is not the UCITS home Member State, the depositary shall sign a written agreement with the management company regulating the flow of information deemed necessary to allow it to perform the functions set out in Article 32 and in other laws, regulations or administra