{
  "url": "https://openlegislation.uk/draft-packaged-retail-and-insurance-based-investment-products-retail-disclosure-amendment-regulations-2024/regulation-3",
  "json_url": "https://openlegislation.uk/draft-packaged-retail-and-insurance-based-investment-products-retail-disclosure-amendment-regulations-2024/regulation-3.json",
  "legislation": "ukdsi/2024/9780348263961",
  "legislation_title": "The Packaged Retail and Insurance-based Investment Products (Retail Disclosure) (Amendment) Regulations 2024",
  "legislation_url": "https://openlegislation.uk/draft-packaged-retail-and-insurance-based-investment-products-retail-disclosure-amendment-regulations-2024",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "Amendment of Commission Delegated Regulation (EU) 2017/565",
  "text": "(1) Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive is amended as follows.\n(2) In Article 2 (definitions), after point (16C) insert—\n“(16D) “closed-ended investment company that is UK-listed” is to be interpreted in accordance with Article 2(3) of Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products;”.\n(3) In Article 50 (information on costs and associated charges), in paragraph 2(b), after “instruments” insert “, except any costs of manufacturing and managing shares in a closed-ended investment company that is UK-listed”.\n(4) In Article 51 (information provided in relation to units in collective investment undertaking or PRIIPs)—\n(a) the existing text becomes paragraph 1;\n(b) after that paragraph insert—\n“2 The requirements in paragraph 1 do not include any costs of manufacturing and managing shares in a closed-ended investment company that is UK-listed.”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "EUR 2017/565; relevant amending instruments are S.I. 2018/1403 and 2021/1376."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2024/9780348263961/regulation/3",
    "retrieved_at": "2026-10-30T14:40:41.278246+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."
}