PART 9Transitional Provisions

Depositaries of EEAAIFs until 22nd July 201777

1

This regulation applies if, in accordance with the transitional provision in article 61.5 of the directive, the FCA or an authority in another EEA State permits a credit institution that is—

a

authorised under the banking consolidation directive, and

b

established in the United Kingdom,

to be appointed as the depositary of an EEAAIF.

2

Until 22nd July 2017, regulations 29 to 32 (depositary liability) apply in relation to such a depositary as they apply in relation to the depositary of a UKAIF managed by a full-scope UKAIFM.