The agreement appointing the placement agent must be signed between the placement agent and the fund manager of the overseas domiciled CIU, or an agent representing the overseas domiciled CIU, as appropriate. However, it is the duty of the placement agent to ensure that the contractual agreement is signed with the appropriate entity, notwithstanding that a binding agreement must be in place with the issuer of the overseas domiciled CIU.

April 2012