Article 22a

the tasks are not delegated with the intention of avoiding the requirements laid down in this Directive;

the depositary can demonstrate that there is an objective reason for the delegation;

d’fheidhmigh an taisclann gach scil chuí, cúram cuí agus dícheall cuí agus aon tríú páirtí a bhfuil sé beartaithe aici codanna dá cúraimí a tharmligean chuige á roghnú agus á cheapadh aici, ach amháin i gcás inar taisclann lárnach urrús é an tríú páirtí sin ag gníomhú di i gcáil TLU infheisteora mar a shainmhínítear sa ghníomh tarmligthe arna ghlacadh de bhun Airteagail 29(3) agus 48(10) de Rialachán (AE) Uimh. 909/2014 agus leanann sí de gach scil chuí, cúram cuí agus dícheall cuí a fheidhmiú san athbhreithniú tréimhsiúil agus san fhaireachán leanúnach ar aon tríú páirtí ar tharmlig sí codanna dá cúraimí chuige agus ar shocruithe an tríú páirtí i leith na n-ábhar arna dtarmligean chuige.

has structures and expertise that are adequate and proportionate to the nature and complexity of the assets of the UCITS or the management company acting on behalf of the UCITS which have been entrusted to it;

for custody tasks referred to in point (a) of Article 22(5), is subject to:

segregates the assets of the clients of the depositary from its own assets and from the assets of the depositary in such a way that they can, at any time, be clearly identified as belonging to clients of a particular depositary;

takes all necessary steps to ensure that in the event of insolvency of the third party, assets of a UCITS held by the third party in custody are unavailable for distribution among, or realisation for the benefit of, creditors of the third party; and

complies with the general obligations and prohibitions laid down in Article 22(2), (5) and (7) and in Article 25.