IFR 6.2.3

Past version: effective from 21/10/2015 - 20/10/2015
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(a) Subject to IFR 6.2.3(b), the Fund Manager of a Fund must establish and retain, for six years, records of:
(i) its assessment of the competency of the Shari'a Supervisory Board members;
(ii) the agreed terms of engagement of each member of the Shari'a Supervisory Board; and
(iii) the matters in IFR 6.2.1(a)(iii) and IFR 6.2.2.
(b) If the Fund Manager, pursuant to IFR 6.2.1(b), appoints to the Fund the same Shari'a Supervisory Board it has appointed to itself as an Authorised Person (and whether acting as an Islamic Financial Institution or through an Islamic Window), the records required under IFR 6.2.3(a) must be included in or otherwise form part of the records required under IFR 3.5.4.