# Commission Delegated Regulation (EU) No 231/2013 of 19 December 2012 supplementing Directive 2011/61/EU of the European Parliament and of the Council with regard to exemptions, general operating conditions, depositaries, leverage, transparency and supervision (Text with EEA relevance), Article 76: Objective reasons for delegation

Extent: E+W+S+N.I.

1. The AIFM shall provide the FCA with a detailed description, explanation and evidence of the objective reasons for delegation. When assessing whether the entire delegation structure is based on objective reasons within the meaning of rule 3.10.2(2)(a) of the Investment Funds sourcebook the following criteria shall be considered:
(a) optimising of business functions and processes;
(b) cost saving;
(c) expertise of the delegate in administration or in specific markets or investments;
(d) access of the delegate to global trading capabilities.
2. Upon request by the FCA, an AIFM shall provide further explanations and provide documents proving that the entire delegation structure is based on objective reasons.

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Source: https://www.legislation.gov.uk/eur/2013/231/article/76 (the official version)
Page: https://openlegislation.uk/eu-regulation-2013-231/article-76
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.