# The Long-term Investment Funds (Amendment) (EU Exit) Regulations 2019, Regulation 28: Transparency


(1) Article 23 (transparency) is amended as follows.
(2) In paragraph 1—
(a) for “ELTIF” substitute “LTIF” in both places;
(b) for “Union” substitute “UK” in both places.
(3) In paragraph 3—
(a) in point (a), for “ELTIF’s” substitute “LTIF’s”;
(b) in point (b), for “Directive 2003/71/EC” substitute “prospectus rules within the meaning of Part 6 of FSMA (official listing) contained in rules made by the FCA under section 73A of FSMA (Part 6 rules)”;
(c) in point (c), for “Article 23 of Directive 2011/61/EU” substitute “section 3.2 of Chapter 3 of the Investment Funds sourcebook”;
(d) in points (d) and (e), for “ELTIF” substitute “LTIF” in both places;
(e) in point (f), for “competent authorities” substitute “FCA”.
(4) In paragraph 4—
(a) for “ELTIF” substitute “LTIF” in each place;
(b) in point (a), for “ELTIF’s” substitute “LTIF’s”.
(5) In paragraph 5—
(a) for “Article 22 of Directive 2011/61/EU” substitute “rules 3.3.2 to 3.3.7 of the Investment Funds sourcebook”;
(b) for “ELTIF” substitute “LTIF” in each place;
(c) omit point (b).
(6) In paragraph 6, for “ELTIF” substitute “LTIF” in both places.

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Source: https://www.legislation.gov.uk/ukdsi/2019/9780111177266/regulation/28 (the official version)
Page: https://openlegislation.uk/draft-long-term-investment-funds-amendment-eu-exit-regulations-2019/regulation-28
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.