Common use of Sponsored Investment Entity Clause in Contracts

Sponsored Investment Entity. A Financial Institution described in subparagraph B.1. of this section having a sponsoring entity that complies with the requirements of subparagraph B.2. of this section. 1. A Financial Institution is a sponsored investment entity if (a) it is an Investment Entity established in Jersey; and (b) an Entity has agreed with the Financial Institution to act as a sponsoring entity for the Financial Institution; 2. The sponsoring entity is authorised to act on behalf of the Financial Institution (such as fund manager, trustee, corporate director, or managing partner) and complies with the following requirements: a) The sponsoring entity is a Jersey Financial Institution; b) The sponsoring entity performs, on behalf of the Financial Institution, all due diligence, reporting and other requirements that the Financial Institution would have been required to perform if it were a Reporting Jersey Financial Institution; c) The sponsoring entity identifies the Financial Institution in all reporting completed on the Financial Institution’s behalf; and d) The sponsoring entity has notified the Jersey Competent Authority of its status as a sponsor in respect of the Financial Institution and has not had its status as a sponsor revoked by the Jersey Competent Authority.

Sponsored Investment Entity. A Financial Institution described in subparagraph B.1. of this section having a sponsoring entity that complies with the requirements of subparagraph B.2. of this section. 1. A Financial Institution is a sponsored investment entity if (a) it is an Investment Entity established in JerseyMontserrat; and (b) an Entity has agreed with the Financial Institution to act as a sponsoring entity for the Financial Institution; 2. The sponsoring entity is authorised to act on behalf of the Financial Institution (such as fund manager, trustee, corporate director, or managing partner) and complies with the following requirements: a) The sponsoring entity is a Jersey Montserrat Financial Institution; b) The sponsoring entity performs, on behalf of the Financial Institution, all due diligence, reporting and other requirements that the Financial Institution would have been required to perform if it were a Reporting Jersey Montserrat Financial Institution; c) The sponsoring entity identifies the Financial Institution in all reporting completed on the Financial Institution’s behalf; and d) The sponsoring entity has notified the Jersey Montserrat Competent Authority of its status as a sponsor in respect of the Financial Institution and has not had its status as a sponsor revoked by the Jersey Montserrat Competent Authority.

Sponsored Investment Entity. A Financial Institution described in subparagraph subparagraph B.1. of this section having a sponsoring entity that complies with the requirements of subparagraph B.2. of this section. 1. A Financial Institution is a sponsored investment entity if (a) it is an Investment Entity established in Jersey; and (b) an Entity has agreed with the Financial Institution to act as a sponsoring entity for the Financial Institution; 2. The sponsoring entity is authorised to act on behalf of the Financial Institution (such as fund manager, trustee, corporate director, or managing partner) and complies with the following requirements: a) The sponsoring entity is a Jersey Financial Institution; b) The sponsoring entity performs, on behalf of the Financial Institution, all due diligence, reporting and other requirements that the Financial Institution would have been required to perform if it were a Reporting Jersey Financial Institution; c) The sponsoring entity identifies the Financial Institution in all reporting completed on the Financial Institution’s behalf; and d) The sponsoring entity has notified the Jersey Competent Authority of its status as a sponsor in respect of the Financial Institution and has not had its status as a sponsor revoked by the Jersey Competent Authority.