Appointment of an Adviser for a corporate proposal
4.9
Can a Sponsored Corporation appoint an Adviser other than its Sponsor, to act on its behalf when undertaking a corporate proposal during the Sponsorship Period?
Yes, a Sponsored Corporation may appoint an Adviser other than its Sponsor to act on its behalf when undertaking a corporate proposal during the Sponsorship Period. However, the Sponsored Corporation must obtain the prior written consent of its Sponsor for such appointment pursuant to Rule 4.25 of the ACE LR. The responsibilities of a Sponsor and Adviser in this circumstance are as set out in Rule 4.16 of the ACE LR.