Appointment of a Principal Officer:
Every registered Fund must have a Principal Officer who is the responsible official accountable to the Financial Services Board for submission of all statutory reports.
The Principal Officer is also responsible for:
Representing the Fund in a legal capacity.
Responsible for implementing the instructions of the Board of Management.
Will in conjunction with the Administrator, oversee the operations and performance of the Funds.
Accountable to the Registrar and Financial Services Board for handling of all records and handling of complaints lodged with the Adjudicator.
Maintaining minutes of Board meetings and distributing agendas.
Although the Principal Officers of the Funds are employees of MIBFA, their responsibility is to the Trustees.
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