Regulation 8 Collective investment schemes constituted under Gibraltar law

Article 3A (collective investment schemes constituted under Gibraltar law)^f1 is amended as follows.

Renumber the existing text as paragraph (1) and in that paragraph, for “as it applies” substitute “as it applied immediately before exit day”.

After paragraph (1) insert—

“(2)

The Financial Services and Markets Act 2000 (Collective Investment Schemes Constituted in Other EEA States) Regulations 2001^f2 are to be read in relation to a collective investment scheme constituted in Gibraltar as if—

(a)

in regulation 3, for the words from “in accordance with” to “that directive” there were substituted “immediately before exit day would have been a UCITS to which the UCITS directive applied”, and

(b)

in regulation 4(b) after “referred to in” there were inserted “the law of Gibraltar which implemented”.”.