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  • AU-1.3 AU-1.3 [This Section deleted 07/2007]

    Deleted: July 2007

    • AU-1.3.1

      A person may not carry on the business of an administrator without being registered as such with the BMA.

    • AU-1.3.2

      For the purposes of Rule AU-1.3.1, administrators are defined as persons who administer financial instruments and related services such as cash/ collateral management.

    • AU-1.3.3

      Acting as an administrator refers to administering certain specified functions in relation to financial instruments that include the following:

      a) legal and fund management accounting services;
      b) client inquiries;
      c) valuation and pricing (including tax returns);
      d) regulatory compliance monitoring;
      e) maintenance of unit-holder register;
      f) distribution of income;
      g) unit issues and redemption;
      h) contract settlements (including certificate dispatch); and
      i) record-keeping.

    • AU-1.3.4

      An application for registration must be in the form prescribed by the BMA in Section AU-5.3.

    • AU-1.3.5

      A registered administrator may not undertake any regulated investment services.