Regulation 37 Supervision by the FCA

(1)

Article 32 (the heading to which becomes “Supervision by the FCA”) is amended as follows.

(2)

In paragraph 1, for “competent authorities” substitute “FCA”.

(3)

In paragraphs 2 and 3, for “competent authority of the ELTIF” substitute “FCA”.

(4)

In paragraph 3, for “ELTIF,” substitute “LTIF,”.

(5)

In paragraph 4—

(a)

for “competent authority of the manager of the ELTIF” substitute “FCA” in both places;

(b)

for “ELTIF” in the other places where it appears substitute “LTIF” in each case;

(c)

for “ELTIFs” substitute “LTIFs”.

(6)

In paragraph 5—

(a)

for “Competent authorities” substitute “The FCA”;

(b)

for “their territories” substitute “the United Kingdom”;

(c)

for “designation ‘ELTIF’” substitute “designation ‘LTIF’”;

(d)

for “an ELTIF” substitute “an LTIF”.