4.

The third party may sub-delegate any of the functions delegated to it provided that the following conditions are met: the AIFM consented prior to the sub-delegation; the AIFM notified the competent authorities of its home Member State before the sub-delegation arrangements become effective; the conditions set out in paragraph 1, on the understanding that all references to the ‘delegate’ are read as references to the ‘sub-delegate’.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-10 · Text as adopted (Official Journal); later amendments are not incorporated in this text.