Content Options

View Options

approved depositary

    42any depositary:

      1. (a) which is subject to regulation by a national regulatory body in connection with its custody services;
      1. (b) which is required to prepare audited accounts;
      1. (c) whose latest annual audit report is not materially qualified; and
      1. (d) which
        1. (i) has minimum net assets of £5 million (or its equivalent in any other currency at the relevant time) and has surplus revenue over expenditure for the last two financial years; or
        1. (ii) if not, nevertheless has adequate financial resources for its business.