PART 2Amendments coming into force on F116th June 2014
The Financial Services and Markets Act 20002
In section 418 of the Financial Services and Markets Act 2000 M1 (carrying on regulated activities in the United Kingdom)—
a
in subsection (1) for “five” substitute “
six
”
;
b
after subsection (5A) insert—
5AA
The sixth case is where—
a
the regulated activity being carried on by the person is the regulated activity of managing an AIF;
b
the AIF being managed—
i
has its registered office in an EEA State; or
ii
is marketed in an EEA State;
c
the person's registered office is in the United Kingdom or, if the person does not have a registered office, the person's head office is in the United Kingdom; and
d
the activity is carried on from an establishment maintained in a country or territory outside the EEA.
c
in subsection (6) for “(5A)” substitute “
(5AA)
”
; and
d
after subsection (7) insert—
8
In this section “marketing”, in relation to an AIF, is to be read in accordance with the definition of “marketing” in Article 4.1(x) of the alternative investment fund managers directive M2.
Words in Pt. 2 heading substituted (31.5.2014) by the Alternative Investment Fund Managers (Amendment) Order 2014 (S.I. 2014/1313), arts. 1, 2(a)