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Amendment of section 33 of Act of 2015
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50. Section 33 of the Act of 2015 is amended by the insertion of the following subsection after subsection (3):
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“(4) Save as otherwise provided by this Act or by the instrument of incorporation of the ICAV—
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(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
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(b) any instrument to which an ICAV’s common seal shall be affixed shall be—
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(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
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(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.”.
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