Irish Collective Asset-management Vehicles Act 2015

Directors to have regard to interests of employees

80. (1) The matters to which the directors of an ICAV are to have regard in the performance of their functions shall include the interests of the ICAV’s employees in general, as well as the interests of its members.

(2) Accordingly, the duty imposed by this section on the directors shall be owed by them to the ICAV (and the ICAV alone) and shall be enforceable in the same way as any other fiduciary duty owed to an ICAV by its directors.