Home / CY AIF Law of 2018 / PART ΙΙ: PROVISIONS REGARDING THE ALTERNATIVE INVESTMENT FUNDS / Chapter 6: AIF depositary / [31] Independence between the depositary and the external manager of the AIF.

31. Independence between the depositary and the external manager of the AIF.

(1) The performance of the tasks of the external manager and the tasks of the depositary of an AIF must not be undertaken by the same person.

(2) The depositary and the external manager or the AIF, in case it is internally managed, shall perform their tasks independently and act exclusively in the interest of the unitholders of the AIF, regardless of whether they belong in the same group or not.