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RP-6.4.1

The minimum duties of the custodian of CIUs authorised or registered under Module ARR include, but are not limited to the following:

(a) To open, maintain, and control CIU subscription and trading cash accounts with licensed banks in all relevant markets;
(b) To open and maintain CIU securities accounts with authorised institutions;
(c) To ensure that all assets belonging to a CIU, including cash accounts, are segregated from other accounts of the custodian or its clients;
(d) To directly collect and receive all income and other payments, distributions and entitlements pertaining to a CIU;
(e) To make all payments and settlements on behalf of and for the interest of the CIU, in line with the scheme documents, including the prospectus;
(f) To safeguard all of the assets belonging to a CIU;
(g) To ensure that all assets belonging to a CIU are held in the name of the CIU or, where relevant market practices and/or legal requirements dictate, held on behalf of the CIU, provided that proper legal arrangements are in place;
(h) To execute any corporate actions;
(i) To maintain all records and documentation relating to all transactions made on behalf of the CIU; and
(j) To reconcile the CIU records pertaining to assets held, with statements obtained from sub-custodians, brokers and agents, on a regular and timely basis.
April 2012