CHAPTER ISUBJECT MATTER, SCOPE AND DEFINITIONS
Article 2
1.
This Regulation applies to managers of collective investment undertakings as defined in point (a) of Article 3(1) that meet the following conditions:
(a)
their assets under management in total do not exceed the threshold referred to in F1sub-paragraph (a) of regulation 9(1) of the AIFM Regulations;
(b)
they are established in the F2United Kingdom;
(c)
they are subject to registration with the F3FCA in accordance with regulation 10 of the AIFM Regulations; and
(d)
they manage portfolios of qualifying social entrepreneurship funds.
F42.
Articles 3 to 6, Articles 10 and 13, points (d), (e) and (f) of Article 14(1), Articles 15a F5, 18 and 19F6... 22 and 22a of this Regulation shall apply to managers of collective investment undertakings F7who have permission under Part 4A of FSMA to carry on the regulated activity specified by article 51ZC of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (managing an AIF) F8and who manage portfolios of qualifying social entrepreneurship funds and intend to use the designation ‘F9SEF’ in relation to the marketing of those funds in the F10United Kingdom.
3.
Where managers of qualifying social entrepreneurship funds are external managers and are registered in accordance with Article 15, they may additionally manage F11UK UCITS (which has the meaning given in section 237 of FSMA).