Art. 12d

(Art. 14 para. 1^terCISA)

1. The SICAV or the representative of foreign collective investment schemes remains responsible for the fulfilment of supervisory duties and when delegating tasks shall safeguard clients' interests.
2. They shall agree with the third party in writing or in another form demonstrable via text which tasks are to be delegated. The following in particular are to be laid down in the agreement:
   1. the authorities and responsibilities;
   2. any powers of subdelegation;
   3. the third party's duty to render account;
   4. the rights to control of the SICAV and the representative of foreign collective investment schemes.
3. The SICAVs and the representatives of foreign collective investment schemes shall lay down in their organisational principles the tasks delegated as well as details of the possibility of subdelegation.
4. Delegation is to be organised so that the SICAV or the representative of foreign collective investment schemes, its internal auditors, the audit company and FINMA can inspect and review the delegated task.