Irish Collective Asset-Management Vehicles Act 2015

33.

Common seal

33. (1) An ICAV may provide itself with a common seal (but there is no requirement that it shall have such a seal).

(2) An ICAV which has a common seal shall have its name engraved in legible characters on the seal.

(3) A person who is an officer of an ICAV, or a person acting on behalf of an ICAV, commits a category 3 offence by using, or authorising the use of, a seal purporting to be a seal of the ICAV on which its name is not engraved as required by subsection (2).

F13 [ (4) Save as otherwise provided by this Act or by the instrument of incorporation of the ICAV

(a) an ICAV’s common seal shall be used only by the authority of its directors, or of a committee of its directors authorised by its directors in that behalf, and

(b) any instrument to which an ICAV’s common seal shall be affixed shall be

(i) signed by a director of it or by some other person appointed for the purpose by its directors or by a foregoing committee of them, and

(ii) be countersigned by the secretary or by a second director of it or by some other person appointed for the purpose by its directors or by a foregoing committee of them. ]

Annotations:

Amendments:

F13

Inserted (1.02.2021) by Investment Limited Partnerships (Amendment) Act 2020 (31/2020), s. 50, S.I. No. 19 of 2021.