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Article 22
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Mandating of a master agent by an offshore fund institution and mandating of a sub-distributor by the master agent shall be done in writing.
The required content of master agent agreements and sub-distributor agreements executed for mandates under the preceding paragraph described above, and any subsequent amendments thereto, shall be drafted by the SITCA and ratified by the FSC.
A sub-distributor agreement may be executed jointly among the sub-distributor, the offshore fund institution, and the master agent.
When offering and selling offshore funds under these Regulations, master agents and sub-distributors may not waive by contract any duty they bear to investors under any law or regulation.
A master agent of an offshore ETF shall sign an agreement with any participating dealer or dealers to stipulate the rights and obligations of the parties.
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