28.—(1) Article 23 (transparency) is amended as follows.
(2) In paragraph 1—
(a)for “ELTIF” substitute “LTIF” in both places;
(b)for “Union” substitute “UK” in both places.
(3) In paragraph 3—
(a)in point (a), for “ELTIF’s” substitute “LTIF’s”;
(b)in point (b), for “Directive 2003/71/EC” substitute “prospectus rules within the meaning of Part 6 of FSMA (official listing) contained in rules made by the FCA under section 73A of FSMA (Part 6 rules)”;
(c)in point (c), for “Article 23 of Directive 2011/61/EU” substitute “section 3.2 of Chapter 3 of the Investment Funds sourcebook”;
(d)in points (d) and (e), for “ELTIF” substitute “LTIF” in both places;
(e)in point (f), for “competent authorities” substitute “FCA”.
(4) In paragraph 4—
(a)for “ELTIF” substitute “LTIF” in each place;
(b)in point (a), for “ELTIF’s” substitute “LTIF’s”.
(5) In paragraph 5—
(a)for “Article 22 of Directive 2011/61/EU” substitute “rules 3.3.2 to 3.3.7 of the Investment Funds sourcebook”;
(b)for “ELTIF” substitute “LTIF” in each place;
(c)omit point (b).
(6) In paragraph 6, for “ELTIF” substitute “LTIF” in both places.