Legal representative

(1) The rights and obligations of an investment fund under this Act are to be exercised or fulfilled by the legal representative of the investment fund. Rights and obligations as against an investment fund under this Act are to be exercised or fulfilled as against the legal representative of the investment fund.
(2) For the purposes of this Act, the capital management company, or the domestic permanent establishment or branch of a foreign management company, is deemed the legal representative of domestic investment funds. Where the domestic investment fund is managed by a foreign management company that does not have a domestic permanent establishment or branch, the domestic depositary is deemed the legal representative.
(3) During the winding-up of a domestic investment fund, the domestic depositary, or the liquidator appointed in its place, is the legal representative of the investment fund.
(4) The management company of a foreign investment fund is deemed the legal representative, unless a differing legal representative is demonstrated.