{
  "url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-regulations-2013/regulation-31",
  "json_url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-regulations-2013/regulation-31.json",
  "legislation": "ukdsi/2013/9780111540206",
  "legislation_title": "The Alternative Investment Fund Managers Regulations 2013",
  "legislation_url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-regulations-2013",
  "path": "regulation/31",
  "kind": "regulation",
  "number": "31",
  "heading": "Depositary liability for other losses",
  "text": "(1) If an AIF, or investors of an AIF, have suffered losses other than the loss by the depositary or a third party to which custody has been delegated or sub-delegated of financial instruments held in custody in accordance with Article 21.8(a) of the directive, the depositary is liable to the AIF, or investors of the AIF, if the losses are a result of the depositary’s negligent or intentional failure to comply with an implementing provision that applies to it.\n(2) Irrespective of any contractual arrangements that provide otherwise, any liability of the depositary to the AIF, or to investors of the AIF, under paragraph (1) is not affected by any delegation by the depositary of the functions referred to in Article 21.8 of the directive.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2013/9780111540206/regulation/31",
    "retrieved_at": "2026-10-30T14:49:44.041803+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."
}