Section 11Part 3 — Mutual Fund Administration
Types of Mutual Fund Administrators Licences
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Subject to subsection
, a Mutual Fund Administrators Licence authorises the holder of the licence to act or carry on business as a mutual fund administrator in respect of an unlimited number of regulated mutual funds. ( 2 ) Subject to subsection
, there may be granted a Mutual Fund Administra tors Licence that authorises the holder of the licence to act or carry on business as a mutual fund administrator solely in respect of the regulated mutual funds specified from time to time in the licence. ( 3 ) A restricted Mutual Fund Administrators Licenc e may not be granted to a person who does not have a registered office in the Islands.