COLL 4.2.11 Non-QFC Independent Entities—Oversight of Property Safeguarding Functions by Operators
(1) This rule applies in relation to the independent entity of a QFC scheme if the independent entity is not an authorised firm.
(2) The operator must take reasonable care to ensure that the independent entity exercises its functions under rule 4.2.6 (Property safeguarding functions of independent entity—all QFC schemes) in accordance with the provisions of—
(a) these rules; and
(b) any other law of the QFC applying in relation to the scheme; and
(c) the law of any other jurisdiction (if any) applying in relation to the scheme.
|Derived from QFCRA RM/2010-05 (as from 1st January 2011)|