(1) For each AIF it manages, the AIFM shall ensure that a single depositary is appointed in accordance with this Regulation.

(2) The appointment of the depositary shall be evidenced by written contract. The contract shall, inter alia, govern the communication and exchange of information deemed necessary to allow the depositary to perform its functions for the AIF for which it has been appointed as depositary, as set out in these Regulations and in other relevant laws, regulations or administrative provisions.

(3)

(a) The depositary shall be:

(i) a credit institution having its registered office in the State or another Member State and authorised in accordance with Directive 2006/48/EC;