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What are the three defining criteria of a discretionary management mandate according to Article D. 321-1 of the Code ...

What are the three defining criteria of a discretionary management mandate according to Article D. 321-1 of the Code monétaire et financier?

Discretionary nature, individualised nature, existence of a contractual framework
Discretionary nature, existence of a contractual framework, cost transparency
Individualised nature, cost transparency, mandate duration
Cost transparency, mandate duration, existence of a contractual framework