This Rule sets out the general requirements relating to the oversight arrangements which a Public Fund must have, including the powers and duties of the Persons appointed to a Public Fund to provide the oversight function.

This Rule shall, where the Trust Deed confers on the Trustee the oversight function of the Investment Trust, apply to a Trustee who shall (rather than the Fund Manager) comply with the requirements expressed in this Rule to apply to the Fund Manager. To the extent that the oversight function is carried out by a Person other than the Trustee, the Trustee shall provide to those persons any assistance that is reasonably required by them to enable them to carry out the oversight function.