{
  "url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-regulations-2013/schedule-2/paragraph-11",
  "json_url": "https://openlegislation.uk/draft-alternative-investment-fund-managers-regulations-2013/schedule-2/paragraph-11.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/2/paragraph/11",
  "kind": "paragraph",
  "number": "11",
  "heading": "Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001",
  "text": "(1) The Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001 are amended as follows.\n(2) In regulation 1(2) (interpretation) in the appropriate places insert—\n““authorised contractual scheme” has the meaning given at section 237(3) of the Act;”;\n““authorised open-ended investment company” has the meaning given at section 237(3) of the Act;”;\n““authorised unit trust scheme” has the meaning given at section 237(3) of the Act;”;\n““relevant AIFM” means an EEA firm falling within paragraph 5(h) of Schedule 3 to the Act which—\n(a) is authorised by its home state regulator to provide services specified by Annex I to the alternative investment fund managers directive; and\n(b) is providing those services, or services specified by Article 6.4 of that directive (discretionary portfolio management and non-core services), in the United Kingdom;”;\n““UK AIF” has the meaning given in regulation 2 of the Alternative Investment Fund Managers Regulations 2013.”.\n(3) In regulation 2 (persons not to be regarded as relevant persons)—\n(a) omit “and” after sub-paragraph (1)(c);\n(b) after sub-paragraph (1)(d) insert—\n“; and\n(e) any relevant AIFM.”;\n(c) after paragraph (3) insert—\n“(4) A relevant AIFM is prescribed in relation to all authorised activities other than any services specified by Annex I to the alternative investment fund managers directive provided in respect of an authorised unit trust scheme, an authorised contractual scheme or an authorised open-ended investment company.”.\n(4) In regulation 3(1) (persons who may elect to participate)—\n(a) omit “and” after sub-paragraph (b);\n(b) after sub-paragraph (c) insert—\n“; and\n(d) any relevant AIFM which has established a branch in the United Kingdom in exercise of an EEA right to the extent that it—\n(i) provides services specified by Annex I to the alternative fund managers directive in respect of a UK AIF which is not an authorised unit trust scheme, an authorised contractual scheme or an authorised open-ended investment company, unless the relevant AIFM is a member of another investor-compensation scheme which affords investors protection which equals or exceeds that provided by the Financial Services Compensation Scheme; or\n(ii) provides services specified in Article 6.4 of the alternative investment fund managers directive (discretionary portfolio management and non-core services), and is a member of a home State investor-compensation scheme which meets the condition in paragraph (2);”.\n(5) In regulation 4 (persons in respect of whom inspection under section 224 does not apply)—\n(a) omit “and” after paragraph (c);\n(b) after paragraph (d) insert—\n“; and\n(e) any relevant AIFM to the extent that it provided services in the United Kingdom other than services specified by Annex I to the alternative investment fund managers directive that were provided in respect of an authorised unit trust scheme, an authorised contractual scheme or an authorised open-ended investment company.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "S.I. 2001/1783. Regulation 1 was amended by S.I. 2003/1476, S.I. 2003/2066, S.I. 2006/3221 and S.I. 2011/1613. Regulation 2 was amended by S.I. 2003/1476, S.I. 2003/2066 and S.I. 2011/1613. Regulations 3 and 4 were amended by S.I. 2003/1476 and S.I. 2003/2066."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2013/9780111540206/schedule/2/paragraph/11",
    "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."
}