The Alternative Investment Fund Managers Regulations 2013 No. 1773

[F1 [F2 PART 9A U.K. Temporary Marketing Provisions

Textual Amendments

F1 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)

F2 Pt. 9A inserted (20.2.2019) by The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/328), regs. 1(2), 14 (as amended by S.I. 2019/325, reg. 58)

Deemed authorisation U.K.

78B.— (1) During the period referred to in regulation 78A(1), an EEA AIFM (as defined by regulation 78A(1)(b)) is to be treated as if it is an authorised person for the purposes of the Act if it satisfies the conditions in paragraph (2).

(2) An EEA AIFM satisfies the conditions in this paragraph if—

(a) immediately before [F3 IP completion day] the EEA AIFM—

(i) was marketing an EEA AIF or a UK AIF in the United Kingdom in reliance on its rights under Article 32 of the directive; and

(ii) was authorised to carry on a regulated activity in the United Kingdom by virtue of section 31(1)(b) or (c) (but not section 31(1)(a)) of the Act; and

(b) after [F3 IP completion day], it is permitted to market that EEA AIF under regulation 78A.]]

Textual Amendments

F3 Words in reg. 78B substituted (31.1.2020 immediately before exit day) by The Financial Services (Consequential Amendments) Regulations 2020 (S.I. 2020/56), regs. 1, 3(b)