المادة 15(b): Delegation by the Fund Manager

b. The fund manager may delegate one or more third parties or any of its affiliates to act as a fund operator, or may delegate one or more third parties to carry out fund operations, including administrative services of the fund, the following must be fulfilled:

1) The delegate must be appointed pursuant to a written agreement.

2) The fund operator or delegate must be a capital market institution licensed to carry out the activity of managing investments and operating funds.