Version date: 14 March 2018 - onwards
  Version 9 of 9    

iv. Operating conditions

1. The depositary shall not have directors in common with the board of directors of the AIFM or the management company, the fund administrator, the investment company or the general partner.

2. The depositary shall review the list of stock exchanges and markets in the Retail Investor AIF prospectus to ascertain if it can provide, at the date of the prospectus, for the safe-keeping of the assets of a Retail Investor AIF, which may be traded on these exchanges or markets, in accordance with the conditions imposed by the Central Bank on the Retail Investor AIF. If the depositary cannot provide custody in accordance with this requirement it must consult with the Retail Investor AIF to ensure that the relevant exchanges or markets are removed from the list.

3. The depositary shall keep the list of permitted stock exchanges and markets in the prospectus under review to ensure that the markets meet with the regulatory criteria set out in paragraph 1 of section 4.iii of Part I of Chapter 1 –