1. An AIF management company shall have at all times:
(i) initial capital of at least €125,000 ("Initial Capital Requirement"); or
(ii) one quarter of its total expenditure taken from the most recent annual accounts ("Expenditure Requirement");
whichever is higher ("Minimum Capital Requirement").
2. An AIF management company shall:
(a) have financial resources, calculated in accordance with paragraph 2 of Annex I to this chapter - Minimum Capital Requirement Report, Notes on Compilation, at least equal to its Minimum Capital Requirement ("Financial Resources");
(b) hold its Minimum Capital Requirement in the form of Eligible Assets, as specified in paragraph 3 of Annex I to this chapter - Minimum Capital Requirement Report, Notes on Compilation;
(c) be in a position to demonstrate, to the Central Bank, its compliance with the Minimum Capital Requirement, as per Annex I to this chapter, throughout the reporting period; and
(d) act honestly, fairly, professionally, independently and in
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