The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 No. 544

Article 51ZF

[F1 SCHEDULE 8 U.K. PERSONS EXCLUDED FROM REGULATED ACTIVITY OF MANAGING AN AIF

Textual Amendments

F1 Schs. 6-8 inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), reg. 1, Sch. 2 para. 1(17)

Interpretation of this Schedule U.K.

1.   Any expression used in this Schedule which is used in the alternative investment fund managers directive has the same meaning as in that directive.

Persons excluded U.K.

2.   A small registered UK AIFM, in respect of the AIFs managed by it by virtue of which it is entitled to be registered as a small registered UK AIFM (but not in respect of any other AIFs managed by it).

3.   An AIFM in so far as it manages one or more AIFs whose only investors are— U.K.

(a) the AIFM,

(b) the parent undertakings of the AIFM,

(c) the subsidiaries of the AIFM, or

(d) other subsidiaries of those parent undertakings,

provided that none of the investors is an AIF.

4.   An institution for occupational retirement provision which falls within the scope of Directive 2003/41/EC of the European Parliament and of the Council of 3 June 2003 on the activities and supervision of institutions for occupational retirement provision, including, where applicable, the authorised entities responsible for managing such institutions and acting on their behalf referred to in Article 2.1 of that directive, or the investment managers appointed pursuant to Article 19.1 of that directive, in so far as they do not manage AIFs. U.K.

5.   The European Central Bank, the European Investment Bank, the European Investment Fund, a bilateral development bank, the World Bank, the International Monetary Fund, any other supranational institution or similar international organisation, or a European Development Finance Institution, in the event that such institution or organisation manages AIFs and in so far as those AIFs act in the public interest. U.K.

6.   A national central bank. U.K.

7.   A national, regional or local government or body or other institution which manages funds supporting social security and pension systems. U.K.

8.   A holding company. U.K.

9.   An employee participation scheme or employee savings scheme. U.K.

10.   A securitisation special purpose entity. U.K.

[F2 11.   An AIFM, the registered office of which is not in an EEA State [F3 , that is registered in the United Kingdom in accordance with Article 3 of the alternative investment fund managers directive].]] U.K.

Textual Amendments

F2 Sch. 8 para. 11 omitted (coming into force in accordance with reg. 1(4) of the amending S.I.) by virtue of The Alternative Investment Fund Managers (Amendment) Regulations 2013 (S.I. 2013/1797), Sch. 2 para. 2

F3 Words in Sch. 8 para. 11 inserted (22.7.2013) by The Alternative Investment Fund Managers Regulations 2013 (S.I. 2013/1773), regs. 1, 81(3)