Section 107
of Securities Markets Regulations, 2015
Section 107
(2)
The requirement in sub-regulation ( 1) does not apply to 250
12th.
2015
fa} a real property collective investment scheme where the operator has made adequate alternative arrangements that are in accordance with regulation 87; or
(b)
a private equity collective investment scheme where the operator has made adequate alternative arrangements.
(3)
In accordance with the delegation agreement, the operator fa) must register the legal title of the collective investment scheme property with the custodian; and
·
{b) may give instructions to the custodian to deal with the collective investment scheme property.
(4)
An operator of a collective investment scheme may delegate one or both of the investment activities or services of providing collective investment scheme administration and providing custody to another person where that person is licensed by the Authority to provide the service of administration or safekeeping of assets.
Delegation by trustee.