the valuation process, policies and procedures are established in compliance with applicable UCITS and AIFs requirements as well as undertakings for collective investment’s rules (in particular for AIFs, Article 17 of the AIFM Law and implementing measures of Article 19 of the AIFM Level 1 Directive)

where applicable, as set out under Article 94.4 of the AIFM Level 2 Regulation, the appointment of external valuers by AIFMs comply with the aforementioned articles;