50. (1) Subject to subsection (2), the register of members shall be kept available for inspection by a person entitled to inspect it—

(a) at the registered office of the ICAV, or

(b) at an alternative place notified to the Bank under subsection (3) as the place where the register of members is kept.

(2) The register of members shall not be kept at a place outside the State.

(3) Subject to subsection (4), every ICAV shall send notice to the Bank of the place where its register of members is kept and of any change in that place.

(4) An ICAV shall not be bound to send notice under subsection (3) where the register has, at all times since it came into existence, been kept at the registered office of the ICAV.

(5) If an ICAV fails to comply with any of subsections (1) to (3), the ICAV and any officer of it who is in default commits a category 3 offence.

(6) The persons entitled to inspect the register of members of an ICAV are—

(a) the Bank,

(b) the Director of Corporate Enforcement, and

(c) any statutory body which needs to inspect the register in order properly to exercise any of its functions.