# The Alternative Investment Fund Managers (Amendment etc.) (EU Exit) Regulations 2018, Regulation 8: Depositaries


(1) In regulation 29—
(a) in paragraph (1), for “an EEA AIFM” substitute “a Gibraltar AIFM”;
(b) in paragraph (3), for the words “Directive 98/26/EC” to “of that Directive” substitute “the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 by a designated system (within the meaning of regulation 2(1) of those Regulations)”.
(2) In regulation 30—
(a) in paragraph (1), for “Article 21.8(a) of the directive” substitute “rule 3.11.21 of the Investment Funds sourcebook”;
(b) in paragraph (4)(b), for “implementing provisions relating to the second paragraph of Article 21.11 of the directive”, substitute “rule 3.11.28 of the Investment Funds sourcebook”;
(c) in paragraph (5)(b), for “implementing provisions relating to the second paragraph of Article 21.11 of the directive”, substitute “rule 3.11.28 of the Investment Funds sourcebook”;
(d) in paragraph (6), for “Article 21.8 of the directive” substitute “rules 3.11.21 and 3.11.23 of the Investment Funds sourcebook”;
(e) in paragraph (7)—
(i) omit “an EEA ELTIF or”;
(ii) for “UK ELTIF” substitute “UK LTIF”.
(3) In regulation 31—
(a) in paragraph (1), for “Article 21.8(a) of the directive” substitute “rule 3.11.21 of the Investment Funds sourcebook”;
(b) in paragraph (2), for “Article 21.8 of the directive” substitute “rules 3.11.21 and 3.11.23 of the Investment Funds sourcebook”.
(4) In regulation 32—
(a) in paragraph (1)(b), for “implementing provisions relating to Article 21.11(d)(ii) of the directive”, substitute “rule 3.11.28(4)(b) of the Investment Funds sourcebook”;
(b) in paragraph (3)—
(i) omit “an EEA ELTIF or”;
(ii) for “UK ELTIF” substitute “UK LTIF”.
(5) In regulation 33—
(a) for “an EEA State” substitute “the United Kingdom or Gibraltar”;
(b) for “the directive” substitute “the Financial Services and Markets Act 2000, these Regulations, and any EU tertiary legislation made under the directive which forms part of retained EU law”.

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Source: https://www.legislation.gov.uk/ukdsi/2018/9780111175323/regulation/8 (the official version)
Page: https://openlegislation.uk/draft-alternative-investment-fund-managers-amendment-etc-eu-exit-regulations-2018/regulation-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.