{
  "url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-amendment-etc-eu-exit-regulations-2018/regulation-27",
  "json_url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-amendment-etc-eu-exit-regulations-2018/regulation-27.json",
  "legislation": "ukdsi/2018/9780111175323",
  "legislation_title": "The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2018",
  "legislation_url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-amendment-etc-eu-exit-regulations-2018",
  "path": "regulation/27",
  "kind": "regulation",
  "number": "27",
  "heading": "Liquidity management",
  "text": "(1) Before Article 46, omit “(Article 16 of Directive 2011/61/EU)”.\n(2) In Article 46—\n(a) for “competent authorities of their home Member State”, substitute “FCA”;\n(b) for “Article 16(1) of Directive 2011/61/EU” substitute “rule 3.6.3 of the Investment Funds sourcebook”.\n(3) In Article 47, in paragraph 1(c)—\n(a) for “Article 16(1) of Directive 2011/61/EU” substitute “rule 3.6.3 of the Investment Funds sourcebook”;\n(b) for “regulated market within the meaning of point (14) of Article 4(1) of Directive 2004/39/EC” substitute “UK regulated market within the meaning of point (13A) of Article 2(1) of Regulation (EU) No 600/2014”.\n(4) In Article 49(1), for “Article 16(2) of Directive 2011/61/EU” substitute “rule 3.6.2 of the Investment Funds sourcebook”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Point (13A) is inserted into Article 2(1) by the Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2018/9780111175323/regulation/27",
    "retrieved_at": "2026-10-30T15:03:10.251641+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}