Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Board NoticesDetermination on the requirements for hedge fundsPart 4 : General Provisions Applicable to all Hedge Funds16. Permitted structures |
| (1) | A manager may only establish a scheme using the following structures for its hedge fund— |
| (a) | a collective investment scheme trust arrangement as contemplated in the Act; or |
| (b) | an en commandite partnership. |
| (2) | Despite subparagraph (1), a manager of a retail hedge fund, must regardless of which structure it uses for its hedge fund, appoint a custodian as contemplated in Part IX of the Act and may appoint a separate depository for safekeeping of assets. |