Article 17 Insolvency protection of UK UCITS assets when delegating custody functionsF2

receives legal advice from an independent natural or legal person confirming that the applicable insolvency law recognises the segregation of the assets of the depositary's clients from the third party's own assets, from the assets of the third party's other clients and from the assets held by the third party for the depositary's own account and that the assets of the depositary's UK UCITS clients do not form part of the third party's estate in case of insolvency and are unavailable for distribution among, or realisation for the benefit of, creditors of the third party to whom safekeeping functions have been delegated in accordance with F4rule 6.6B.22, 6.6B.25 and 6.6B.26 of the Collective Investment Schemes sourcebook;

ensures that the conditions laid down in the applicable insolvency laws and case law of that third country recognise that the assets of the depositary's UK UCITS clients are segregated and unavailable for distribution among, or realisation for the benefit of creditors, as referred to in point (a), are met when concluding the delegation agreement with the depositary as well as on an ongoing basis for the entire duration of the delegation;

immediately informs the depositary where any of the conditions referred to in point (b) is no longer met;

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

informs the depositary about the changes of applicable insolvency law and of its effective application.