52. Duty of a fund manager, custodian or trustee to be independent of each other

Terms defined in s 2

• corporation

  corporation

  Defined · s 2

  “corporation” means a body corporate formed or incorporated or existing within Malaysia or outside Malaysia and includes any foreign Labuan company but does not include— (a) a corporation sole; (b) a trade union registered under any written law as a trade union; or (c) a society registered under any written law as a co-operative society;

  Open s 2
• custodian

  custodian

  Defined · s 2

  “custodian” means a person who is entrusted by an Islamic mutual fund with custody of the property of the fund pursuant to an agreement to that effect;

  Open s 2
• fund manager

  fund manager

  Defined · s 2

  “fund manager” means a person who, for valuable consideration, provides management services alone or with investment advice or administrative services in respect of securities for the purposes of investment, including dealing in securities or such other activity as may be specified by the Authority;

  Open s 2
• Islamic public fund

  Islamic public fund

  Defined · s 2

  “Islamic public fund” means an Islamic mutual fund other than an Islamic private fund;

  Open s 2