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Administrator for Funds
An entity which provides administration services to collective investment schemes and which requires specific authorisation under the IIA to carry on that particular investment business service.

Authorised Advisor
A specific type of investment business firm that can provide investment advice on retail investment instruments, i.e. those investment instruments set out in Section 25 and 26 (1)(a) of the IIA, without the necessity to hold a letter of appointment and that can act as a deposit agent or deposit broker. In addition, it can receive and transmit orders to a product producer from which it holds a letter of appointment. An Authorised Advisor is obliged to recommend the most suitable investment product available in the market, regardless of whether or not it holds an appointment from the relevant product producer.

Authorised Designated Investment Company
A variable capital investment company which raises capital by providing facilities for the direct or indirect participation by the public and which is authorised under section 256(5) of the Companies Act, 1990, Part XIII.

Authorised Non Designated Investment Company
A variable capital investment company which shall not provide facilities for direct or indirect participation by the public and which is authorised under section 256 (7) of the Companies Act, Part XIII.