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CIU-1.1.4

An application for authorisation under Rule CIU-1.1.1 involving an overseas operator will only be considered if:

(a) The overseas operator is duly authorised to operate similar CIUs in its home jurisdiction and is supervised by an overseas financial services authority acceptable to the CBB; and
(b) The overseas operator has identified an appropriate institution licensed by the CBB, with which it would enter into service agreements in order to satisfy the administration and custody requirements contained in Rule CIU-1.4.9.