The SICAR must be incorporated under one of the following forms:

* Ordinary Limited Partnership (Société en commandite simple)

* Partnership Limited by shares (Société en commandite par actions)

* Co-operative society having the form of a public company limited by shares (Société organisée sous forme d'une société anonyme)

* Private limited company (Société à responsabilité limitée)

* Public Company limited by shares (Société Anonyme)

A SICAR must appoint a depositary bank to act as a custodian of its assets. Such depositary must either have its registered office in Luxembourg or be established in Luxembourg, if its registered office is in another EU Member State.

The depositary or custodian bank must also:

* ensure that the subscribtion price of the company's securities are received by the company within the time limits set out in its constitutional documents;

* ensure that in transactions involving the assets of the company, the consideration is paid or delivered to it within the customary time limits;

* ensure that the income of the company is applied in accordance with its constitutional documents;

* act independently and solely in the interests of the investors.