1. The authorised AIF and the AIF management company shall identify an individual at management level within the AIF management company, who must be located in the State, with responsibility for compliance with all legal and regulatory requirements and for cooperation and liaison with the relevant regulatory authorities. Such person is to be designated the compliance officer and must have the necessary access to systems and records. The compliance officer shall be responsible for the compliance function, even if this function is performed by a third party. The AIF management company is required to ensure that the compliance officer reports to the board of the AIF management company at each board meeting, such reports to the board to be made by the compliance officer at least quarterly.
2. An AIF management company shall, at all times:
(a) have adequate control systems and accounting procedures to facilitate effective management of the AIF management company and to ensure that the AIF m
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