C1F5PART 3Small AIFMs
Pt. 3 modified (31.12.2020) by The Social Entrepreneurship Funds (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/343), regs. 1(1), 11(2)(b) (with savings in S.I. 2019/680, reg. 11); 2020 c. 1, Sch. 5 para. 1(1)
Power to direct small registered UK AIFMs and F2SEF and RVECA Managers to take appropriate measuresC222
1
The FCA may direct a small registered UK AIFM to take such specified steps as are necessary for the purpose of securing its compliance with—
a
an implementing provision,
b
the EuSEF Regulation, or
c
the EuVECA Regulation.
F32
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
An AIFM must comply with any direction given to it by the FCA under paragraph (1) F4....
F14
Sections 55Y (exercise of own-initiative power: procedure) and 55Z3(2) (right to refer matters to the Tribunal) of the Act apply to a direction to an AIFM under paragraph (1) or (2) as they apply to a requirement imposed on an authorised person under section 55L(3) of the Act (imposition of requirements by the FCA).
Regulations revoked (14.12.2023 for the revocation of reg. 79) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 2 (with s. 1(4)); S.I. 2023/1382, reg. 2(c)(vi)