IMRO Rules. As a member of IMRO and in light of IMRO Rules, the Sub-Adviser places on record that it regards this Agreement as not necessitating any ancillary agreement with the Fund or VKAC on the grounds that, within meanings of the IMRO Rules (a) the Fund is an open-ended investment company and a business investor, (b) VKAC is a professional investor and (c) the subject matter of this Agreement is a scheme management activity.
Appears in 4 contracts
Samples: Investment Sub Advisory Agreement (American Capital Life Investment Trust), Investment Sub Advisory Agreement (American Capital Life Investment Trust), Investment Sub Advisory Agreement (American Capital Life Investment Trust)
