# The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2018, Regulation 35: Loss of financial instruments, liability discharge and objective reasons


(1) Before Article 100, omit “(Article 21(12) and (13) of Directive 2011/61/EU)”.
(2) In Article 100—
(a) in paragraph 1, for “Article 21(12) of Directive 2011/61/EU” substitute “regulations 30(1) to (3) and 31(1) of the AIFM Regulations 2013”;
(b) in paragraph 2, for “competent authorities” substitute “FCA”;
(c) in paragraph 3, for “Article 21(12) of Directive 2011/61/EU” substitute “regulations 30(1) to (3) and 31(1) of the AIFM Regulations 2013”.
(3) In Article 101—
(a) in the heading, omit “under Article 21(12) of Directive 2011/61/EU”;
(b) in paragraph 1—
(i) in the opening words, for “second subparagraph of Article 21(12) of Directive 2011/61/EU” substitute “regulation 30(2) of the AIFM Regulations 2013”;
(ii) in point (a), for “point (a) of Article 21(8) of Directive 2011/61/EU” substitute “rule 3.11.21 of the Investment Funds sourcebook”;
(iii) in the second subparagraph, for “point (a) of Article 21(8) of Directive 2011/61/EU” substitute “rule 3.11.21 of the Investment Funds sourcebook”;
(c) in paragraph 3, for “point (a) of Article 21(8) of Directive 2011/61/EU” substitute “rule 3.11.21 of the Investment Funds sourcebook”;
(d) in paragraph 4, for “Article 21(13) and (14) of Directive 2011/61/EU” substitute “regulations 30(4) and 32 of the AIFM Regulations 2013”.
(4) In Article 102—
(a) in paragraph 1, in the opening words, for “Article 21(13) of Directive 2011/61/EU” substitute “regulation 30(4) of the AIFM Regulations 2013”;
(b) in paragraph 3—
(i) in the opening words, for “Article 21(13) of Directive 2011/61/EU” substitute “regulation 30(4) of the AIFM Regulations 2013”;
(ii) in point (a), for “Article 21(11) of Directive 2011/61/EU” substitute “rules 3.11.28 to 3.11.30 of the Investment Funds sourcebook”.

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111175323/regulation/35 (the official version)
Page: https://openlegislation.uk/draft-alternative-investment-fund-managers-amendment-etc-eu-exit-regulations-2018/regulation-35
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.