{
  "url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-regulations-2013/schedule-1/paragraph-7",
  "json_url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-regulations-2013/schedule-1/paragraph-7.json",
  "legislation": "ukdsi/2013/9780111540206",
  "legislation_title": "The Alternative Investment Fund Managers Regulations 2013",
  "legislation_url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-regulations-2013",
  "path": "schedule/1/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": null,
  "text": "In section 59 (approval for particular arrangements) after subsection (7B) insert—\n“(7C) A regulator may not exercise the power in subsection (3) so as to provide for a function to be a controlled function in relation to the carrying on of the regulated activity of managing an AIF by an AIFM which—\n(a) is also an AIF;\n(b) does not manage any AIF other than itself;\n(c) is a body corporate; and\n(d) is not a collective investment scheme.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Section 59 was amended by section 14 of, and paragraph 3 of Schedule 5 to, the Financial Services Act 2012, and by S.I. 1012/1906."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2013/9780111540206/schedule/1/paragraph/7",
    "retrieved_at": "2026-10-30T14:49:44.041803+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."
}