The Long-term Investment Funds (Amendment) (EU Exit) Regulations 2019

Portfolio composition and diversification

17.—(1) Article 13 (portfolio composition and diversification) is amended as follows.

(2) In paragraph 1, for “ELTIF” substitute “LTIF”.

(3) In paragraph 2—

(a) for “An ELTIF” substitute “An LTIF”;

(b) for “ELTIF, EuVECA” substitute “LTIF, ELTIF, RVECA, EuVECA, SEF”.

(4) In paragraph 3—

(a) for “ELTIFs, EuVECAs and EuSEFs in an ELTIF” substitute “LTIFs, ELTIFs, RVECAs, EuVECAs, SEFs and EuSEFs in an LTIF”;

(b) for “the ELTIF” substitute “the LTIF”.

(5) In paragraphs 4 and 5, for “ELTIF” substitute “LTIF” in each place.

(6) In paragraph 6—

(a) for “ELTIF” substitute “LTIF”;

(b) after “office” insert “in the United Kingdom or”.

(7) In paragraph 7, for “Directive 2013/34/EU of the European Parliament and of the Council” substitute “UK law which implemented Directive 2013/34/EU of the European Parliament and of the Council or any EU Regulation made under that Directive which is retained EU law”.