المادة 8: Eligibility Requirements

Article 8: Eligibility Requirements

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

b. Where the fund manager was licensed to carry out managing investments activity, without the license to carry out operating funds activity, it must appoint a capital market institution licensed to carry out managing investments and operating funds activity to operate the investment funds under its management.

c. A capital market institution appointed under Paragraph (b) of this Article may be a custodian of the relevant investment fund.

d. A capital market institution appointed under Paragraph (b) of this Article shall be responsible for the fund’s compliance with the provisions of the Capital Market Law and its Implementing Regulations.

e. As an exception to the provisions of Paragraph (a) of this Article, the fund manager of the private real estate investment fund must be a capital market institution licensed to carry out the activity of managing investments and operating funds.