{
  "url": "https://openlegislation.uk/alternative-investment-fund-managers-regulations-2013/regulation-29",
  "json_url": "https://openlegislation.uk/alternative-investment-fund-managers-regulations-2013/regulation-29.json",
  "legislation": "uksi/2013/1773",
  "legislation_title": "The Alternative Investment Fund Managers Regulations 2013",
  "legislation_url": "https://openlegislation.uk/alternative-investment-fund-managers-regulations-2013",
  "path": "regulation/29",
  "kind": "regulation",
  "number": "29",
  "heading": "Depositary liability: general provisions",
  "text": "(1) This regulation and regulations 30 to 32 apply in relation to the depositary of a UK AIF managed by a full-scope UK AIFM or a Gibraltar AIFM.\n(2) Any obligation or liability of a depositary under regulation 30 or 31 to the investors of the AIF may be invoked directly or indirectly through the AIFM, depending on the nature of the legal relationship between the depositary, the AIFM and the investors.\n(3) For the purposes of regulations 30 to 32, the provision of services as specified by the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 by a designated system (within the meaning of regulation 2(1) of those Regulations), or the provision of similar services by a third-country securities settlement system, is not to be considered a delegation of custody functions.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Regulations revoked (14.12.2023 for the revocation of reg. 79) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(vi)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 29(1) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 8(1)(a) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in reg. 29(3) substituted (31.12.2020) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(3), 8(1)(b) (as amended by S.I. 2019/325, reg. 58); 2020 c. 1, Sch. 5 para. 1(1)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "uksi/2013/1797",
      "affecting_title": "The Alternative Investment Fund Managers (Amendment) Regulations 2013"
    },
    {
      "type": "substituted",
      "affecting": "uksi/2013/1797",
      "affecting_title": "The Alternative Investment Fund Managers (Amendment) Regulations 2013"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2013/1773/regulation/29",
    "retrieved_at": "2026-10-29T00:47:39.456479+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}