Home / CY AIF Law of 2018 / PART ΙΙ: PROVISIONS REGARDING THE ALTERNATIVE INVESTMENT FUNDS / Chapter 6: AIF depositary / [34] Termination of the appointment of the depositary.

34. Termination of the appointment of the depositary.

(1) The appointment of the depositary shall be terminated-

(a) in case of resignation or replacement of the depositary, on the condition that, until the new depositary takes over its tasks, the resigning depositary or the depositary being replaced continues performing its tasks and being subject to the obligations of the AIF depositary, as provided-

• in the Alternative Investment Fund Managers Law or the legislation of another Member State which harmonises Directive 2011/61/EE respectively, in case the external manager is an AIFM∙ or

• in this Law, in all other cases∙

(b) in case of dissolution of the depositary or its declaration in a state of special liquidation or administration or another relevant procedure∙

(c) in case the Securities and Exchange Commission withdraws the authorisation of the AIF or demands the replacement of the depositary in accordance with section 33(2)∙

(d) in the cases provided for in the fund rules or instruments of incorporation of the AIF.