Appointment of a special representative

(1) The Federal Institute may, on a particular occasion, appoint a special representative and entrust that person with the performance of tasks at a capital management company. It confers on that person the powers necessary for this purpose.
(2) The special representative must be independent, reliable, and suitable for the proper performance of the tasks entrusted to him or her, in the interest of a sustainable business policy of the capital management company and the safeguarding of financial market stability; insofar as the special representative assumes the tasks of a manager or a member of a supervisory body, he or she must offer assurance of the professional suitability required.
(3) Insofar as the special representative is not entrusted with the exercise of the powers of a manager or a member of a supervisory body, a legal person may also be appointed. In selecting an auditing firm or an accounting firm as special representative, the Federal Institute may, without examination, assume that the auditing firm or the accounting firm deploys only personnel who are reliable and suitable for the proper performance of the tasks delegated.