Oversight function

(1) The depositary must ensure that 1. the issue and redemption of units or shares of the domestic UCITS, and the calculation of the value of the units or shares of the domestic UCITS, comply with the provisions of this Act and with the investment conditions or the articles of association, 2. in transactions involving assets of the domestic UCITS carried out for the joint account of the investors, the consideration is remitted to the domestic UCITS, or for the account of the domestic UCITS, within the usual time limits, 3. the income of the domestic UCITS is applied in accordance with the provisions of this Act and the investment conditions or the articles of association, and 4. the collateral required for securities lending under section 200(2) is validly provided and is available at all times.
(2) The depositary must carry out the instructions of the UCITS management company, provided that these do not infringe statutory provisions, the investment conditions, or the articles of association.
(3) For further details on the depositary's duties under subsections (1) and (2), reference is made to Articles 3 to 8 of Delegated Regulation (EU) 2016/438.